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Aug 16 - 03:55 AM

GBP/USD - Looking To The Year's Low On A 1.2000 Breach

By Peter Stoneham  —  Aug 16 - 02:20 AM
  • Sterling clear below its daily cloud and converged 21-30DMAs

  • Our 1.2097 short in play and will lower the stop on a drop under 1.2019

  • Daily cloud base now key resistance, today at 1.2101

  • Main downside triggers at 1.2004, Aug. 5 low and 1.1963, a 61.8% Fibo

  • Below 1.2000 opens up the 2022 1.1761 low point

  • Daily momentum has flipped to negative and RSI is lower

    For more click on FXBUZ
















Source:
Refinitiv IFR Research/Market Commentary

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