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Apr 20 - 03:55 AM

GBP/USD - Looking Stretched But Top Picking Dangerous

By Peter Stoneham  —  Apr 20 - 02:25 AM
  • Sharp back to back gains has stretched some studies but bid is holding

  • Move above a 50% Fibo, 1.4010, off 1.4240-1.3779 drop opens up full retrace

  • 30-DMA upper Bolli also 1.4010. Next Fibo, 61.8%, at 1.4064, viable target

  • 14-day momentum slips a little and RSI turning over ahead of 70.00

  • Former trend resistance now support and 21DMA tipping points at 1.3810

  • Weeklies still show potential for a 1.4240 test: dip buying favoured

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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