GBP/USD Update – 30/05/2017 (11:43am) – by Arjun Lakhanpal

May 30, 2017 by

A broader look at GBP techs..GBP/USD has sold off to the 1.2776 December high and is seeing a small rebound from here: Sterling has recently failed just ahead of 1.3060 the 29th September high. The recent new high was not confirmed by the RSI and we note the 13 count on the daily chart. The erosion of the short term uptrend has seen the market sell off to 1.2776 the 6th December high, we would allow for a tepid bounce from here ahead of losses to the 1.2590/68 the 200 and 55 day ma. Intraday rallies are indicated to fail around current 1.2850/60Β area..