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Sep 21 - 08:55 AM

GBP/USD - Strong Cloud Rejection Could Be Significant

By Peter Stoneham  —  Sep 21 - 06:55 AM
  • Sharp reversal from 1.2965 and cloud top rejection significant

  • Low of 1.2835 allows us to lower our 1.2910 short stop to entry

  • Need a close under the 1.2903 10DMA to bolster the bear move

  • Three consecutive daily failures to hold a cloud break: 1.2964 top key

  • 14-day negative momentum stretched but daily RSI has bearish room

  • Weeklies holding below 200WMA, 1.2935















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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