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May 20 - 02:55 AM

GBP/USD - Strong Bullish Signals Friday Into Monday

By Peter Stoneham  —  May 20 - 02:05 AM
  • Our 1.2684 short play in trouble following strong Friday close

  • Close clear above the daily cloud and a positive start Monday

  • Daily cloud starts to fall away from today, gap to the top opening up

  • However, little in the way of strong resistance until 1.2803, Mar. 21 high

  • Risk of a full retracement of the 1.2893 -1.2299 drop

  • The 76.4% Fibo of that move is at 1.2753

  • We will maintain our stop at 1.2730

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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