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Jun 22 - 04:55 AM

GBP/USD - Losing Altitude With Falling Daily Tops

By Peter Stoneham  —  Jun 22 - 02:35 AM
  • Sterling struggling to maintain gains above the 10DMA, today at 1.2244

  • Long upper candle shadow Tues into losses early Wed: bearish pointer

  • A 50% Fibo at 1.2170 pivotal this session, taken off 1.1934-1.2405

  • Bearish 14-day momentum increasing and RSI edging lower from neutral

  • Falling daily tops hint at a developing bear trend

  • We lean bearish but will await stronger signals

    For more click on FXBUZ
















Source:
Refinitiv IFR Research/Market Commentary

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