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Feb 24 - 02:55 AM

GBP/USD - Marked Acceleration Could Be A Warning

By Peter Stoneham  —  Feb 24 - 02:09 AM
  • Acceleration to 1.4295 could be significant for the underlying bull trend

  • A trend can speed up into a reversal as late comers rush to join the trend

  • These buyers then struggle as established longs decide to book profits

  • Trend high just shy of a 50% Fibo, 1.7192-1.1413, at 1.4303

  • Critical level on the pullback, 1.4093, 30DMA upper Bollinger

  • Could be a pivotal session for sterling: overbought unwinding the risk

GBP/USD Trader:

GBP/USD daily candle chart: Click here

Refinitiv IFR Research/Market Commentary


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