By Peter Stoneham — Jan 11 - 01:59 AM
Falling daily tops and removal of a minimum Fibo retrace level
23.6% 1.3135-1.3703 was at 1.3569, 38.2% at 1.3486 and key 50% at 1.3419
Bearish advantage into new week and 14-day momentum set to flip to negative
Close below 1.3419-29 supp. area this week could trigger stronger reversal
Volatility still clouding direction but return to low 1.31s the s/t risk
Weeklies still highlight steep up-trend: long lower shadows but weakening
GBP/USD Trader:
GBP/USD daily candle chart: Click here
Source:
Refinitiv IFR Research/Market Commentary