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Aug 03 - 05:55 AM

GBP/USD - Bears Can Target Ichimoku Cloud Levels

By Peter Stoneham  —  Aug 03 - 04:35 AM
  • Sterling clear below the 10 and 21-DMAs and closing in on the daily cloud

  • Ichimoku cloud parameters are 1.2648 and 1.2578

  • The 100DMA joins the cloud base at 1.2578 and serves as a bear target

  • Fourteen day negative momentum has faded slightly

  • Daily RSI is still confirming sterling weakness

  • On pullbacks the 10DMA, 1.2817, could be pivotal

  • We offer by the average to join the down move

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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