By Peter Stoneham — Jan 23 - 10:05 AM
New session low below 1.2350 and we lower our 1.2430 short stop to entry
Potential for a bearish engulfing candle as sterling slides to 1.2332
We target 1.2272 initially, the 10DMA line
Bullish divergence on 14-day momentum a concern
Daily RSI has turned over from high levels
Close under Friday's 1.2334 low sees our stop lowered again
Mon 1.2447 high now key resistance and potential squeeze point
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Source:
Refinitiv IFR Research/Market Commentary