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Aug 06 - 05:55 AM

GBP/USD's Thickening Daily Cloud Resistance Is Hindering Bulls

By Martin Miller  —  Aug 06 - 03:41 AM
  • GBP/USD bulls need to break above cloud in order to keep the bias the upside

  • So far failed to overcome the daily cloud that spans 1.3930-1.3992 region

  • Focus is also on 1.3991 Fibo, close above needed to increase bias bullish

  • 1.3991 Fibo is 61.8% retrace of the 1.4250 to 1.3573 (June to July) EBS fall

  • Pound set to rise in August, breaking its usual pattern nL1N2PA0LC

  • GBP/USD Trader TGM2338. Previous update nL1N2PC0FK

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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