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Apr 19 - 02:55 AM

GBP/USD - Repeated Upside Failures But Still Over Sold

By Peter Stoneham  —  Apr 19 - 01:55 AM
  • Repeated failures in the high 1.24s into a Friday shake out

  • Our 1.2415 long stopped at entry on-route to 1.2388 low

  • A long lower shadow already formed and the low point might have been seen

  • A May 5 1.2711-19 cloud twist now in play

  • Negative daily momentum and RSI flat and o/s

  • Weekly action remains inside its cloud, bearish

  • However, we still lean bullish and have a bid in place

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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