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Thomson Reuters
Nov 30 - 07:24 AM
GBP/USD - Builds For A Crash Into New Ground Below Key Support
First appeared on eFXplus on Nov 30 - 05:40 AM
  • Recent lows ahead of 1.27 support but bear pressure building once more
  • Underlying bias points to eventual drop below key 1.2662 Aug 15 low
  • Discounting Dec 3 1.30 cloud twist, too far vs mkt and bears strengthening
  • Fading 1.2850 Thurs high favoured for low 1.20s but await stronger signals
  • Wkly chart building for a 1.2697 breach: bear trend defined by 10WMA, 1.2978
  • Weekly momentum flips bear side and stochs bear cross add to GBP woes

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