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Jan 08 - 06:55 AM

GBP/USD - Technically Constructive But Direction Clouded

By Peter Stoneham  —  Jan 08 - 05:00 AM
  • Three day gain but direction still clouded

  • Early Monday bear bias asking questions of the rally off 1.2613

  • Golden cross, 50DMA above 200DMA, supports the bull move

  • Rising daily Ichimoku cloud also leans bullish

  • Weekly action trapped between cloud top and 200WMA, 1.2600 and 1.2840

  • Last week's hammer candle also bullish but price action tight

  • Bullish pointers but we stand aside for now

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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