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Jan 11 - 04:55 AM

GBP/USD - REFILE-BUZZ-GBP/USD Downside Risk While Below 61.8% Fibo Level

By Peter Stoneham  —  Jan 11 - 02:35 AM

Change to Fibo end point

  • Price continues to stall ahead of a 61.8% Fibo level at 1.2215

  • The level taken off the 1.2446-1.1842 drop

  • Daily momentum readings are positive but RSI flat lining

  • Initial support comes in at 1.2100, the 21-DMA line

  • Falling 200-DMA and cloud top key supports, 1.2006 and 1.1935 respectively

  • We see downside risk while below 1.2215

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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