By Peter Stoneham — Feb 03 - 05:44 AM
• Sharp drop and 10-day moving average flips from support to resistance
• Long upper and lower candle shadows hint at indecision
• A doji candle can warn of sideways action or a direction change
• However, sterling has slipped under a 50% Fibo level at 1.2312
• Positive fourteen day momentum has faded and RSI has room to fall
• Risk remains skewed to the downside and the 1.2100 Jan. 13 low
• GBP/USD trader GBP/USD Trader: [page:2338]
GBP/USD daily candle chart:
(Peter Stoneham is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters