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Jan 24 - 07:55 AM

GBP/USD - Impressive Rebound Already Losing Traction

By Peter Stoneham  —  Jan 24 - 05:40 AM
  • Tues bounce off the 50-day moving average kept our 1.2695 long in the game

  • Early Wed gains to 1.2773 underpin recovery but 1.2750 pullback a concern

  • Close above 1.2747 needed to keep sterling recovery alive

  • Daily trend resistance off 1.2825 Dec. 28 high breached at 1.2757

  • Fourteen day momentum clinging to positive values

  • Daily RSI trying to lift from neutral levels

  • Weeklies still contained, sideways bias within 1.2616-1.2846 levels

  • Risk to 1.2788 Jan. 11 high

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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