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Mar 05 - 08:55 AM

GBP/USD - Too Far Too Fast Or Is The Trend Broken?

By Peter Stoneham  —  Mar 05 - 06:39 AM
  • Daily bearish continuation pattern plays out with a bang

  • Sharp Frid losses now setting up a weak close on the week

  • Previous significant low, 1.3860, now resistance

  • Price removes the 30DMA at 1.3847 and lines up a run at 55DMA, 1.3726

  • 14-day momentum flips to negative and extends fall

  • Weekly trend reversal strengthened significantly: inverted hammer

    For more click on FXBUZ















GBP/USD Trader:

GBP/USD weekly candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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