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Sep 11 - 03:55 AM

GBP/USD - Correcting But Rebound Lacks Conviction

By Peter Stoneham  —  Sep 11 - 02:55 AM
  • A move against the recent bear run but not a strong rebound so far

  • Tight ranges forming doji style candles, hint at market indecision

  • Price holding below the 10-day moving average, 1.3126

  • Fourteen day momentum marginally negative for a second day

  • Slow stochs are bearish but daily RSI flat at neutral levels

  • Bearish cloud twists on the horizon could start to drag on sterling

  • We lean bearish and look for better opportunities to fade GBP/USD

  • GBP/USD trader TGM2338

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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