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Refinitiv
Jan 09 - 05:55 AM

GBP/USD - Looking For Direction While Below 200-Week Average

By Peter Stoneham  —  Jan 09 - 05:15 AM
  • Daily momentum remains positive but price is stuck within ranges

  • Bias is up and a golden MA cross points to further gains

  • Weekly chart highlights the directionless market

  • Capped by 200-week moving average, 1.2840, price is panning out sideways

  • Last week's long lower candle shadow adds to the bullish bias

  • We lean towards a long play but will wait for stronger signals

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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