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Dec 27 - 01:55 AM

GBP/USD - Bulls Might Again Be Deterred By Fibo Resistance

By Ewen Chew  —  Dec 26 - 11:51 PM
  • GBP/USD ekes out gains, last 1.3407 from Fri close 1.3375

  • But bulls may hesitate due to previous rejection by Fibo line

  • Retracement at 1.3417 deflected rallies last two sessions

  • Another failure to clear that resistance will dull upside odds

  • 50 DMA slightly higher above adds another obstacle for GBP

  • General risk sentiment mildly positive even as US yields firm

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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