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Nov 03 - 03:55 AM

GBP/USD - Bear Warning; Signs Of Recovery

By Peter Stoneham  —  Nov 03 - 01:55 AM
  • Concern for our 1.2959 short as candles warn of supply fade

  • Long lower shadows Thurs-Mon and failure to hold a 100DMA break cited

  • A reversal would still have to better the daily cloud, 1.2958-1.3000

  • Fibo levels off 1.3177-1.2854 drop are at 1.2977 and 1.3016: 38.2% and 50%

  • 14-day momentum remains negative but RSI is flattening

  • Key support Mon's 1.2854 low: a break here opens up low 1.27s and 200DMA














GBP/USD Trader:

GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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