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Thomson Reuters
Sep 04 - 06:12 AM
GBP/USD - Bears Gear Up For A Close Below Key Fibo After Big Drop
First appeared on eFXplus on Sep 04 - 04:00 AM
  • On Monday GBP/USD saw the biggest one-day fall since August 23
  • This registered a daily close below the 30-DMA, now at 1.2920
  • Bears now trying to force a daily close below the 1.2853 Fibo will weaken
  • 1.2853 is a 50 percent retrace of the 1.2662 to 1.3043 August recovery
  • We are looking to get short at the 1.2890 level

GBP/USD Trader:

Daily Bollinger Chart: Click here

Source:
Thomson Reuters IFR Markets

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