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Thomson Reuters
Jun 04 - 05:00 AM
GBP/USD - Key Fibo Retrace Levels In Play As Reversal Holds
First appeared on eFXplus on Jun 04 - 03:05 AM
  • Bullish reversal becoming more entrenched as signals strengthen
  • Frid hammer drew bull confirmation Mon and early Tues sees a further gains
  • Daily RSI beginning to confirm price lift but momentum remains negative
  • 14-day momentum still reflecting recent bearish acceleration
  • Close above 10DMA, 1.2657, to bring key 1.2754 May 27 high into play
  • Above here and key retrace levels emerge: 1.2875 50% 1.3190-1.2560 drop :

GBP/USD Trader:

GBP/USD Fibonacci Chart: Click here

GBP/USD Daily Candle Chart: Click here

Source:
Thomson Reuters IFR Markets

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