Dragonfly Doji joins downbeat RSI to underpin minor recovery but Cable stays below key technical support-turned-resistance.
GBP/USD treads water around 1.2730 as it defends the previous day's rebound from the lowest levels in five weeks but lacks upside momentum during early Friday morning in Asia. in doing so, the Cable pair struggles to justify the previous day's Dragonfly Doji bullish candlestick, as well as the downtrend RSI (14) line, amid a cautions mood ahead of the US Nonfarm Payrolls (NFP).
The reason could be linked to the Bank of England's (BoE) dovish hike joining the bearish MACD signals and the Pound Sterling's sustained trading beneath the previously key technical support.
GBP/USD treads water around 1.2730 as it defends the previous day's rebound from the lowest levels in five weeks but lacks upside momentum during early Friday morning in Asia. in doing so, the Cable pair struggles to justify the previous day's Dragonfly Doji bullish candlestick, as well as the downtrend RSI (14) line, amid a cautions mood ahead of the US Nonfarm Payrolls (NFP).
The reason could be linked to the Bank of England's (BoE) dovish hike joining the bearish MACD signals and the Pound Sterling's sustained trading beneath the previously key technical support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.