Pound Sterling Price News and Forecast: GBP/USD options market snaps two-week downtrend

FX

GBP/USD Price Analysis: Bulls battle against gravity

Early forex prices have cable starting out on the bid by some 20 pips. However, the bulls are up against a strong bearish bias as the monthly chart and structure illustrate:

The triple top is bearish and the break of support for a fresh low is also painting a bearish bias on the charts.

From a weekly perspective, there is the argument for a last-minute bid to fill in the wick as follows:

Read more …

GBP/USD: Options market snaps two-week downtrend

One-month risk reversals on the British pound (GBP), a gauge of calls to puts, rose for the first time in three weeks by the end of Friday’s trading.

Risk reversals jumped to +0.150 in favor of call or bullish bets according to the latest data provided by Reuters. The gauge flashed -0.063 and -0.187 figures during the previous two weeks.

Read more …

 

Articles You May Like

Roger Ver denies CoinFLEX CEO’s claims he owes firm $47M USDC
USD/JPY Live Forex Analysis !! Best Forex Trading System For Intraday and Positional
Fedex Stock (FDX) Technical Analysis
China PMIs: messages in the sub-indices signalling that full recovery will take some time
FOREX Strategy that works every time | High reward low risk