By Christopher Romano — Dec 31 - 01:04 PM
• NY opened near 1.2540 after 1.2569 traded in Europe's morning, drop extended
• Overnight US$ rally extended in NY as yields turned positive
• Equity drop & USD/CNH rally helped reinforce the US$ rally
• GBP/USD turned lower, traded down to 1.2508, was down -0.27% late
• Hold below 10-DMA, falling daily RSI are bearish tech signals
• Consolidation phase of recent drop adds to the bearish signals
gbpusd
(Christopher Romano is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters