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Oct 07 - 03:55 AM

GBP/USD - Leans Bearish But Cloud Contains Fall

By Peter Stoneham  —  Oct 07 - 02:00 AM
  • Daily chart leans bearish after sharp pullback against s/t bull trend

  • Late Tues slide held at the daily cloud base and 21DMA, 1.2867-64

  • A bearish engulfing candle formed but will need Wed confirmation

  • Our 1.2937 short just in the money but vulnerable to corrective gains

  • Key resistance at Tuesday's 1.3007 high with 1.3018 55DMA behind

  • 14-day momentum flipped to negative but RSI climbing














GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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