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Thomson Reuters
Jul 12 - 06:12 AM
GBP/USD - Trying To Build A Base Just Below 1.3200
First appeared on eFXplus on Jul 12 - 03:10 AM
  • Weak Wednesday close below 10 and 21DMAs but modest early Thurs bounce
  • Marginal drop under the 1.3189 key day low from July 9, 1.3188 Thurs low
  • Could argue case for base building 1.3170-1.3190 area but tentative at best
  • Close under 1.3170 sees short play considered: 61.8% 1.3050-1.3363= 1.3170
  • Downside obj 1.3087 lower 30DMA Bolli and 1.3050 2018 low from Jun 28
  • Weekly action sizing up a 100WMA and cloud breach: lvls at 1.3028 and 1.3078

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Source:
Thomson Reuters IFR Markets

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