By Peter Stoneham — Feb 05 - 04:39 AM
• Monday's bullish engulfing line playing out
• Three-day recovery eyes the daily cloud base, 1.2594
• The cloud is falling and could lean on sterling
• Move up is supported by the 10-day moving average, 1.2447
• A 38.2% Fibo off the 1.3434-1.2100 drop is at 1.2610
• Daily momentum and RSI are confirming the rebound from 1.2249
• We lean bullish but the cloud is now key: side lined for now
• 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