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Mar 21 - 03:55 AM

GBP/USD - Bullish Signal But Further Confirmation Needed

By Peter Stoneham  —  Mar 21 - 02:40 AM
  • Tuesday hammer candle into strong Wednesday confirmation

  • Our 1.2773 short stopped at 1.2735

  • A high of 1.2803, just shy of a 61.8% Fibo

  • The 1.2807 retracement is taken off the 1.2893-1.2668 drop

  • Fourteen day momentum struggling to confirm the move: RSI is edging lower

  • Tempted to play the short-side again but will wait for stronger signals

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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