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Jul 10 - 02:55 AM

GBP/USD - Warning To Bulls; 200DMA Fail And Long Upper Shadow

By Peter Stoneham  —  Jul 10 - 02:05 AM
  • Bull run stopped in its tracks just ahead of the 200DMA, 1.2699

  • Long upper shadow to Thurs candle and weak Frid open bearish

  • 14-day positive momentum fades and RSI turns over

  • Weekly action still with bulls but failure to cls above 55DMA a concern

  • 55DMA is at 1.2609: last week's high 1.2530

  • Tempting to short the market but stronger signals needed















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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