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Thomson Reuters
Jun 04 - 07:24 AM
GBP/USD's Short Squeeze Risk Heightened After Fibo Failure
First appeared on eFXplus on Jun 04 - 05:15 AM
  • GBP/USD outlook mixed, after the rejection of the downside last week
  • We remain short at 1.3345, but a mindful of heightened short squeeze risk
  • Market managed to break the 1.3276 Fibo did not register weekly close below
  • 1.3276 Fibo -- 38.2% retrace of the 1.1495 to 1.4377 (2016 to 2018) recovery
  • GBP/USD may find favour in June after tough May

GBP/USD Trader:

Weekly Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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