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Feb 02 - 03:55 AM

GBP/USD - All About The Timing As Daily-Weekly Charts Diverge

By Peter Stoneham  —  Feb 02 - 02:45 AM
  • A rebound from a new pullback low, 1.2275, just shy of the 21DMA at 1.2265

  • Highs of 1.2405 then stalling in early Thursday trade

  • Market still range trading between 1.2264 and 1.2447

  • A slight bear bias holding within the daily range but a tight call

  • Weeklies highlight a demand on dips scenario: long lower candle shadows

  • Weekly cloud base resistance on a closing basis, currently 1.2392

  • Will wait for a clearer picture to emerge before setting a new strategy

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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