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Aug 09 - 03:55 AM

GBP/USD - Cloud Base Failures Could Prove Significant

By Peter Stoneham  —  Aug 09 - 01:41 AM
  • Repeated failures at the daily cloud base increase bearish risk

  • Cloud base currently at 1.3930, was breached, marginally, Friday

  • Friday close below 10DMA also a bearish pointer

  • We are looking to get short for 1.3778, 50% Fibo off 1.3573-1.3982

  • Minimum correction of that move, 1.3885, cleared Frid, 38.2% is 1.3826

  • A long way off but techs are pointing to full 1.3573 retrace potential

    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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