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Jun 25 - 06:12 AM
GBP/USD - Next Major Fibo Bull Target Might Be A Level Too Far
First appeared on eFXplus on Jun 25 - 04:45 AM
  • Rally pauses Monday, new 1.2784 trend high Tues but price looks stretched
  • Eyeing sharply narrowing Bollingers, warning of a pick up in volatility
  • Early Tues pullback giving a long upper candle wick, bearish
  • Momentum and RSI giving little away and short-term averages flattening out
  • Converged 10 and 21DMAs losing some significance but pivotal today 1.2670
  • Bulls with an eye on further gains target 1.2849, 50% Fibo 1.3190-1.2507

GBP/USD Trader:

GBP/USD Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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