Chart GBP/USD Update: Limited scope above 1.3600
The pullback towards 1.3500 has given way to a corrective bounce from 1.3520~, whilst oversold intraday momentum studies unwind.
GBPUSD
is trading around 1.3600, but falling daily stochastics and the bearish Tension Indicator are expected to cap any break to below the 1.3675 Fibonacci retracement.
Following corrective trade, downside levels are expected to attract, with a later close below 1.3500 adding fresh weight to sentiment and opening up the 1.3450 weekly low of 11 January.
GBPUSD
is trading around 1.3600, but falling daily stochastics and the bearish Tension Indicator are expected to cap any break to below the 1.3675 Fibonacci retracement. Following corrective trade, downside levels are expected to attract, with a later close below 1.3500 adding fresh weight to sentiment and opening up the 1.3450 weekly low of 11 January.
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