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Aug 06 - 04:55 AM

GBP/USD - Bearish Pressure Building But Support Close By

By Peter Stoneham  —  Aug 06 - 03:20 AM
  • Sterling's bear run from July 17 is holding but support looming large

  • The daily Ichimoku cloud top is at 1.2702

  • Backed up by the 100 and 200-day moving averages: 1.2685-1.2655

  • Fourteen day momentum and RSI are confirming the latest price drop

  • Bearish risk building under the 10-day moving average, today at 1.2825

  • We look for an opportunity to enter the short side

  • GBP/USD trader TGM2338

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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