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Sep 08 - 06:55 AM

GBP/USD Cloud Twist Warning To Sterling Bears

By Peter Stoneham  —  Sep 08 - 04:40 AM
  • Failure to drop under the 200DMA might force a pre-w/e recovery

  • The average is at 1.2427 today

  • March the last time market was below the 200DMA

  • We remain short from 1.2670 for 1.2405 with a trailing 1.2525 stop

  • Initial support 1.2445, Thursday low

  • September 22 1.2791-98 cloud twist a concern

  • Twists can appear to attract price action

  • Close below 1.253, 100WMA would be a bearish bonus

    For more click onFXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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