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Mar 11 - 03:55 AM

GBP/USD - Marked Acceleration Gives Warning Of A Reversal

By Peter Stoneham  —  Mar 11 - 02:50 AM
  • Six-day bull run culminated in 1.2950 Frid and 2024 high

  • Given the marked acceleration into the high reversal risk is high

  • Early Mon and an open clear below the high, 1.2863

  • Fourteen day momentum off its high and RSI clear below its 76 o/s

  • minimum correction off 1.2518-1.2950 was at 1.2848: 38.2% at 1.2785

  • As price stands a bearish harmi candle in prospect today

  • We lead bearish but will wait for stronger signals

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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