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May 07 - 03:48 AM
GBP/USD - Bulls Look To Major Fibo As Bollingers Tighten
First appeared on eFXplus on May 07 - 02:05 AM
  • Choppy price action in and around the daily cloud
  • Some neutral readings on studies and flat lining l/t averages
  • 21DMA Bollis narrowing, point to a volatility drop and risk of range break
  • Bullish advantage, look to 76.4% Fibo off the 1.3380-1.2851 drop at 1.3255
  • However, a cls below 1.3077 daily cloud base could shake up the bull trend
  • Buying dips still favoured but with tight stops

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