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Mar 01 - 02:55 AM

GBP/USD - Daily Momentum Finally Flips To Negative

By Peter Stoneham  —  Mar 01 - 02:00 AM
  • New recent low at 1.2614 Thursday

  • We have trailed our short stop to 1.2735 but maintain a 1.2535 target

  • We lower the stop again on a break below 1.2600

  • Fourteen day momentum has flipped marginally to negative

  • Mild corrective action early Friday

  • Daily RSI remains flat and neutral

  • Weekly cloud top continues to cap and monthly action remains tight

  • Bearish but with rebound risk Friday

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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