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Thomson Reuters
Apr 25 - 03:48 AM
GBP/USD - Major Fibo Gives Out, Bears Increase Grip On Mkt
First appeared on eFXplus on Apr 25 - 02:35 AM
  • Removal of the 50% Fibo, 1.2895 from 1.2409-1.3380, is significant
  • Next Fibo comes at 1.2780 and provides a viable bear target
  • Heavy market and price now testing 30DMA Fibo support at 1.2885
  • Converged 100-200DMA give resistance at 1.2965, then 10DMA and cloud base
  • A falling and thickening weekly cloud add further to the bearish outlook
  • Weekly momentum poised to flip negative after holding a bull bias since Feb

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