GBP/USD FULL ANALYSIS: Fib level and flows point lower
TECHNICALS:
Daily: Resistance at 1.2450 - 1.2500 that would take a strong sell-off (unlikely) in USD to break. Current levels align with the 61.8% Fib level as well.
1-hour: Bearish RSI divergence and selling pressure emerging this morning.
FLOWS: Very bearish on GBP
NEWS THEMES: Negative Brexit headlines could push the pound lower.
CORRELATIONS: Yield differentials point lower.
Daily: Resistance at 1.2450 - 1.2500 that would take a strong sell-off (unlikely) in USD to break. Current levels align with the 61.8% Fib level as well.
1-hour: Bearish RSI divergence and selling pressure emerging this morning.
FLOWS: Very bearish on GBP
NEWS THEMES: Negative Brexit headlines could push the pound lower.
CORRELATIONS: Yield differentials point lower.
