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May 27 - 04:55 AM

GBP/USD - Bull Trend Continues To Develop

By Peter Stoneham  —  May 27 - 04:00 AM
  • Bullish Frid session into an engulfing line

  • No preceding bear trend to reverse but candle pattern still warns of gains

  • Our 1.2720 long play never got going and risk is against us

  • Daily momentum and RSI readings are rising

  • A falling daily cloud and long upper candle shadows are fighting our corner

  • Initial resistance at 1.2761, recent daily high

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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