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Feb 07 - 02:55 AM

GBP/USD - Risk To The Downside Despite Tuesday Rebound

By Peter Stoneham  —  Feb 07 - 02:00 AM
  • Sterling continues to lurch from one support point to the next

  • Monday's drop was held at 1.2518, the 50WMA line

  • Weekly cloud top and 10WMA on top at 1.2671-76

  • Daily momentum remains negative but RSI is flat lining

  • The 200DMA is providing a pivot point for price, currently 1.2565

  • Underlying bias remains bearish and Tues rebound viewed as corrective

  • We are side lined for now

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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