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May 28 - 11:55 AM

GBP/USD - Failure To Break From Range Puts Longs At Risk

By Peter Stoneham  —  May 28 - 09:51 AM
  • Snap back from a potential range break and price looks heavy

  • New range parameters 1.4233 and 1.4092

  • Failure to better 1.4233 May 21 high opens up 1.4018 Fibo 1.3670-1.4233

  • Weekly Doji adding weight to the downside break call

  • Set for an inside week too, signalling bearish risk for the week ahead

  • A new 2021 high above 1.4240 a way off now

    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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