Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
May 19 - 06:55 AM

GBP/USD - Short Covering Risk Ahead Of Big Levels

By Peter Stoneham  —  May 19 - 04:55 AM
  • Short-term range broken Thurs and our 1.2460 short performing

  • Stop lowered to entry and target set at 1.2290

  • Close below 1.2400 sees stop lowered again to lock profits

  • Fourteen day bearish momentum has faded but RSI still falling

  • Big support levels looming large

  • The 55DMA at 1.2367, 38.2% Fibo at 1.2345 and cloud top 1.2337

  • Will monitor strength of any rebounds away from this support area today

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved
!