Continuum_Economics

Chart GBP/USD Update: Limited scope above 1.3600

Short
FX:GBPUSD   British Pound / U.S. Dollar
The pullback towards 1.3500 has given way to a corrective bounce from 1.3520~, whilst oversold intraday momentum studies unwind.
FX: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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