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Thomson Reuters
May 03 - 05:00 AM
GBP/USD - Bears Be Wary Of Fibo Game Changer Next Week
First appeared on eFXplus on May 03 - 02:45 AM
  • Major fibo at 1.3116, 50% 1.3380-1.2851, potential game changer next week
  • Price now clear below its daily cloud but locking up in the 1.3030s
  • Thin cloud lacks resistance strength and the risk is for a bull resumption
  • Weekly close now key as price flirts with its cloud base, 1.3065
  • We are short from 1.3077 for 1.2920 and have adjusted our stop to 1.3160
  • Close below 1.3020, May 1 low needed to bolster bear bias

GBP/USD Trader:

GBP/USD Daily Ichimoku Chart: Click here

Source:
Thomson Reuters IFR Markets

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