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Jun 21 - 04:55 AM

GBP/USD - Small Gains But Advantage Still With Bears

By Peter Stoneham  —  Jun 21 - 02:50 AM
  • After last week's volatility price now settling into tighter ranges

  • The 10DMA breached but still causing problems for bulls, today at 1.2274

  • 14-day momentum remains negative and RSI is neutral

  • A short-term 50% Fibo off 1.1934-1.2405 provides a bear trigger at 1.2170

  • On balance a bear market but risk is for range trading

  • We prefer to wait for stronger signals before putting on a trade

    for more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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