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
Source:
Refinitiv IFR Research/Market Commentary