GBP/USD sliding trend line to offer support
The retreat from 1.2546 (today’s high) looks like a usual shakeout following a breakout. The spot breached the descending trend line yesterday.
A rebound from around the trend line support appears likely, given the bullish daily RSI and upward sloping ST MAs – 5 & 10.
On the downside, only a daily close below 1.2250 would revive bearishness.
A rebound from around the trend line support appears likely, given the bullish daily RSI and upward sloping ST MAs – 5 & 10.
On the downside, only a daily close below 1.2250 would revive bearishness.
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