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Feb 23 - 02:55 AM

GBP/USD Weekly Close Could Be Pivotal For Sterling

By Peter Stoneham  —  Feb 23 - 02:10 AM
  • New recent range high, 1.2710, Thurs, but longer-term range intact

  • Long candle shadow Thurs but late rebound damaged our short play

  • Short from 1.2704 for 1.2535 with a trailing 1.2775 stop

  • All observed daily averages flat lining, reflecting range trade

  • Fourteen day momentum has spiked but RSI levelling off

  • Weekly action holding close to the cloud top, 1.2660

  • Close on the week will be pivotal for bears

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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