Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Jul 18 - 05:55 AM

GBP/USD - Chart Is Pointing To An Eventual Collapse To 1.1500

By Martin Miller  —  Jul 18 - 03:45 AM
  • Cable will likely drop to test 1.1500 and beyond in the days and weeks ahead

  • GBP/USD closed under the 1.2083 Fibo for two weeks in a row = bearish

  • 1.2083 Fibo is a 76.4% retrace of the 1.1413 to 1.4250 (2020 to 2021) rise

  • 14-week momentum remains negative, this has been the case since late Feb

  • The 1.1500 downside target ahead of the 2020 1.1413 base

  • The latest near-term recovery attempts are likely to fade out

  • GBP/USD Trader TGM2338

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2022 eFXdata · All Rights Reserved
!