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Jan 12 - 02:55 AM

GBP/USD - Bearish Indecision But Well Supported

By Peter Stoneham  —  Jan 12 - 02:20 AM
  • Tight ranges below a 61.8% Fibo with a hint of bullish indecision

  • The Fibo, off 1.2446-1.1842 drop, is at 1.2215

  • Resumption of the s/t bull bias above 1.2241, Dec. 19 high

  • Plenty of support close by with converging 10 and 21DMAs at 1.2080-85

  • The 200DMA is at 1.20 and daily cloud top at 1.1935

  • Daily momentum readings just holding above zero and RSI flat to bearish

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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