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Nov 16 - 08:55 AM

GBP/USD - Cloud Twist Battles 200-Day Moving Average For Attention

By Peter Stoneham  —  Nov 16 - 07:00 AM
  • Tight Wed price action and possibly some indecision emerging

  • Still favour the topside and a run at the key 200DMA, 1.2241

  • Tues long upper candle shadow warned of a reversal but GBP is holding firm

  • Bullish potential while above the 100DMA at 1.1652

  • Positive daily momentum is increasing and RSI is climbing

  • For GBP bears a Dec. 5 1.1131-69 cloud twist: twists can appear to attract

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Source:
Refinitiv IFR Research/Market Commentary

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