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Feb 01 - 08:55 AM

GBP/USD - Falls Deeper Into Daily And Weekly Clouds

By Peter Stoneham  —  Feb 01 - 06:50 AM
  • Sterling falls deeper into its daily Ichimoku cloud

  • Drop to 1.2625 allows our short stop to be lowered

  • Will lower to 1.2695 entry on a move below 1.2597, Jan 17 low

  • Fourteen day momentum increasingly negative and RSI falls to 43

  • Close below the weekly cloud top, 1.2645, could be pivotal

  • Looking to a 38.2% Fibo off 1.2039-1.2825 at 1.2525

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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