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Jan 14 - 05:00 AM
GBP/USD - FX Traders Look To 1.2900 While Below Cloud
First appeared on eFXplus on Jan 14 - 02:55 AM
  • Daily cloud breach consolidation as bears maintain control

  • 14-day momentum still positive but close to neutral

  • Flattening daily RSI, not yet bull divergence but a hint that an adj is due

  • While below 1.3020 cloud top favour 1.2900 test but scope beyond limited

  • Weeklies drop below 10 and 100WMAs and remain extremely bearish

  • 1.2900 the standout support and bear target here too







GBP/USD Trader:

GBP/USD Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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