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Refinitiv
Aug 10 - 05:55 AM

GBP/USD - Contained But With Increasing Rebound Risk

By Peter Stoneham  —  Aug 10 - 04:05 AM
  • Beginnings of a sideways move with price contained

  • 10-day moving average, 1.2140, and converging 21-30-day averages, 1.2055-63

  • We are maintaining a short from 1.2110 for 1.1780 with a 1.2180 stop

  • Second bounce from 1.2065 weakens bear play and stronger rebound the risk

  • Daily momentum and RSI readings are giving little away

  • Weekly action struggling to close above the 10-week MA, currently 1.2116

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Source:
Refinitiv IFR Research/Market Commentary

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