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Jul 06 - 06:55 AM

GBP/USD - Increased Rebound Risk But Adjustments Likely Small

By Peter Stoneham  —  Jul 06 - 05:35 AM
  • A breach of the 30-day MA lower Bollinger Tues and again today

  • Last time the line was broken a strong rebound ensued (June 14-15)

  • Sterling is in trouble and any rebound needs to clear 1.2183, 10DMA

  • Negative 14-day momentum is increasing but RSI is in oversold territory

  • Market looks set to consolidate losses below 1.2000 today

  • We offer by 1.2115 to exploit corrective pullbacks but will be revised

    For more click on FXBUZ
















Source:
Refinitiv IFR Research/Market Commentary

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