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Jul 03 - 06:12 AM
GBP/USD - Bears Primed For A Run At The 2019 Low
First appeared on eFXplus on Jul 03 - 04:00 AM
  • Three day slide to just under the 30DMA lower Bolli, 1.2556
  • Near 2.0% drop from 1.2784 Jun 25 trend resistance line rejection
  • 14-day momentum confirming latest drop and RSI pointing lower
  • A full retrace of the 1.2507 to 1.2784 move now the risk
  • Wkly price range bound but 1.2507 break to bring 2019 1.2409 low into play
  • We maintain a 1.2670 offer but will lower on a close below 1.2600

GBP/USD Trader:

GBP/USD Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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