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Nov 17 - 03:55 AM

GBP/USD - Trend Potential Despite Patchy Demand

By Peter Stoneham  —  Nov 17 - 02:00 AM
  • Long upper candle shadow Mon but bid is holding into Tues

  • Mon 1.3242 high res. then only minor levels ahead of 1.3322 Nov 11 peak

  • Potential for price to start trending above the 10DMA, 1.3170

  • 14-day momentum now confirming gains but RSI sluggish

  • Weeklies also have a long upper candle shadow: battle is on

  • We maintain an offer by 1.3315 but would set a tight stop if filled

GBP/USD Trader:

GBP/USD daily candle chart: Click here

Refinitiv IFR Research/Market Commentary


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