GBP/USD – Outside day candle needs bearish follow through
Tuesday’s bearish outside day candle if followed by a bearish daily close today (preferably below 50-MA support of 1.2413) would signal the rally from the low of 1.1986 has ended at 1.2706 and the spot could drop to 1.2250 in the days ahead.
The daily MACD is below zero; RSI is sitting just below 50.00, but is flat lined, while the daily DMI shows a bearish crossover.
On the higher side, 1.2550 could be revisited if the UK wage growth numbers print well above estimates.
The daily MACD is below zero; RSI is sitting just below 50.00, but is flat lined, while the daily DMI shows a bearish crossover.
On the higher side, 1.2550 could be revisited if the UK wage growth numbers print well above estimates.