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Jul 21 - 02:55 AM

GBP/USD - Ominous Signs After Key Long-Term Retrace Breach

By Peter Stoneham  —  Jul 21 - 01:50 AM
  • Late Tuesday rebound slowed sterling's four-day decline

  • Removal of 200DMA and a minimum l/t correction strong bearish pointers

  • 23.6% Fibo off Mar 2020-June 2021 climb, 1.3580, marginally broken

  • However, short squeeze could intensify back above the 200DMA, 1.3703

  • For now the focus is on 1.3573 Tues low and 1.3166 l/t Fibo level

  • 38.2% of the major 1.1413 to 1.4250 Mar 2020-Jun 2021 move is at 1.3166

  • GBP/USD leans bearish but with corrective risk Wednesday

    For more click on the links below.
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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