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May 10 - 06:55 AM

GBP/USD - REFILE-BUZZ-GBP/USD Trend Fatigue Setting In With Risk Of Pullbacks

By Peter Stoneham  —  May 10 - 04:35 AM

Adding word to headline

  • Bullish bias just holding but progress has slowed significantly

  • Long upper and lower candle shadows hint at market indecision

  • Daily trend support at 1.2526 key to sterling's direction

  • The line is taken off the 1.1805 March 8 low

  • Daily momentum readings are positive but RSI is nearing O/B level

  • Weekly charts also suggest trend fatigue and pullback risk

  • We await stronger signals

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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