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Mar 14 - 11:55 AM

GBP/USD - Bearish Pressure Building Price Action Tight

By Peter Stoneham  —  Mar 14 - 09:50 AM
  • Downside pressure building following a 1.2822 failure

  • Support points close by, 10DMA 1.2774 and Mar. 12 low at 1.2747

  • We lean bearish and will consider a short under 1.2770

  • Long upper and lower candle shadows clouding direction

  • Key levels 1.2893 Mar. 8 high and 1.2706, a 50% Fibo

  • Bull cross over between 100- 200DMA gives bulls some hope

  • Bearish inters but GBP not rolling over

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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