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Jul 12 - 02:55 AM

GBP/USD - Bulls Regroup After Friday's Strong Rebound

By Peter Stoneham  —  Jul 12 - 02:00 AM
  • Big Friday rebound brings consolidation early Monday

  • A marginal new high at 1.3911 but 38.2% Fibo, 1.3931 intact

  • The Fibo off 1.4250 to 1.3734 drop ahead of the 1.3983-88 Aug 2 cloud twist

  • Friday rally upset the order and damaged recent bear trend

  • Weekly action caught between a bear flag and long lower candle shadows

  • On balance bulls just edging ahead but gain consolidation spoils the outlook

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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