Derived Data That Drive Results
By Jeremy Boulton — Jul 11 - 05:35 AM
GBP/USD downside was stretched last week
Pair dropped below base 20-day Bollinger bands then bounced
Pair is no longer oversold so may resume its slide
Correction of June move below bands was more than 61.8% drop from May high
Current correction modest in comparison, less than 38.2% from Jun 16 high
The bearish GBP/USD trend may be intensifying nL1N2YS0GV
Source:
Refinitiv IFR Research/Market Commentary
