By Peter Stoneham — Jan 15 - 04:37 AM
• GBP/USD long lower candle shadows Mon-Tues but reversal found wanting
• Monday also recorded a hammer candle, bullish, with Tues confirmation
• However, GBP failed to even meet a minimum correction level at 1.2268
• Daily action show loss consolidation
• Tighter ranges might warn of a bearish continuation pattern
• Levels to watch at 1.2100, Monday low and 1.2268 23.6% Fibo of
1.2810-1.2100GBP/USD Trader: [page:2338]
GBP/USD daily candle chart:
(Peter Stoneham is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters