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Nov 19 - 03:48 AM
GBP/USD - FX Traders Battle It Out At Trend Resistance Line
First appeared on eFXplus on Nov 19 - 02:00 AM
  • Bulls in control despite failing to record a close above daily channel top

  • Early Tues and another run above the shallow bear channel top at 1.2947

  • Need to see a close above resistance line to open up key 1.3012 Oct 21 peak

  • Weekly cloud breach holding but action is tight: 100-200WMAs overhead

  • Close back inside or below cloud bearish: cloud parameters 1.2886-1.2941

  • We stand aside for now but might minitor price on any test of 1.3012









GBP/USD Trader:

GBP/USD Daily Candle Chart: Click here

GBP/USD Weekly Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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