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Oct 24 - 06:55 AM

GBP/USD - Respecting The Trend But Could See A Run Above 1.30

By Peter Stoneham  —  Oct 24 - 04:40 AM
  • GBP/USD loss consolidation just below the daily cloud base, 1.2990

  • Negative fourteen day momentum fading fast and RSI is attempting to lift

  • The thin but rising daily cloud a barrier to a larger adjustment higher

  • Trend tracking 10DMA provides further resistance at 1.3010

  • Still respecting the underlying bear trend

  • A move above 1.3103 Oct. 15 high needed to damage the down side bias

  • GBP/USD trader TGM2338

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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