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Nov 28 - 06:55 AM

GBP/USD - Underlying Bear Trend Challenged But Not Broken

By Peter Stoneham  —  Nov 28 - 05:15 AM
  • The upside Nov. 27 cloud twist passes but not after a sharp GBP rally

  • The Wed 1.2694 move now drawing a modest correction early Thurs

  • Fourteen day momentum remains negative and RSI has turned over

  • Price closed above the 10DMA, 1.2622, but key 1.2713 Nov. 20 high is intact

  • Gain consolidation likely for the remainder of the week with downside risk

  • We are side lined for now

  • GBP/USD trader TGM2338

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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