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Feb 17 - 11:55 AM

GBP/USD - Failed Channel Break Proves Costly

By Peter Stoneham  —  Feb 17 - 09:35 AM
  • Too soon to be talking trend reversals but GBP has taken a hit

  • Failure to drive a channel resistance break home Tues proves costly

  • Channel top today at 1.3925: close above needed for trend to resume

  • On the pullback from Tues 1.3955 trend high eyes 10DMA at 1.3813

  • Key support and potential tipping point 1.3776 Feb 12 low

  • Underlying bull trend remains in place, for now

  • Sterling looks precarious, remainder of the week now pivotal.

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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