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Nov 06 - 03:55 AM

GBP/USD - Strong Rally But Oct High Intact

By Peter Stoneham  —  Nov 06 - 02:35 AM
  • Big Thurs up day and market now taking stock: speed and magnitude cited

  • Closed above daily cloud but shy of previous key 1.3177 top

  • Potential double top 1.3155-60 but won't write off the bull bias just yet

  • Gain consolidation at best, corrective pullback the risk

  • Positive momentum fading and RSI has turned over

  • Adj. could test 1.3078 cloud top: bull run only negated under 1.30, 55DMA














GBP/USD Trader:

GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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