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Dec 27 - 03:48 PM
GBP/USD - Bulls Fend Off Weekly Reversals, But Dec's Top A Tall Task
First appeared on eFXplus on Dec 27 - 12:50 PM
  • Cable's nearly retraced 38.2% of the late Dec dive at 1.3135

  • Day's 1.3117 high is right by the daily tenkan that's below the kijun

  • Week's lows held key supports by 1.2900 nL1N2910EL

  • Previously o/b daily RSIs have been reset and are rising again

  • But Dec's 1.3516 7-mo high looks daunting before UK-EU Brexit talks

  • Rally off Sept lows fueled by covering of spec shorts, now nearly gone

Chart: Click here

Chart: Click here

Refinitiv IFR Research/Market Commentary


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