Structure: downward
- Daily Currency strength: 45% weak
- Expectation: long
- P.Action: Doji long legged ↑
GBP/USD is staying in range of 1.2454/2813 and intraday bias remains neutral first. On the upside, firm break of 1.2813 will resume larger rise from 1.1409. On the downside, though, sustained break of 55 day EMA (now at 1.2470) will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation.
- Daily Currency strength: 45% weak
- Expectation: long
- P.Action: Doji long legged ↑
GBP/USD is staying in range of 1.2454/2813 and intraday bias remains neutral first. On the upside, firm break of 1.2813 will resume larger rise from 1.1409. On the downside, though, sustained break of 55 day EMA (now at 1.2470) will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation.