Published: 2/19/2018 1:31:00 AM
Analysts at BBH explain that unlike the euro, yen and Swiss franc, sterling failed to make a new high last week as sterling's high was set on January 25 a little below $1.4350.
“It has made two lower highs since. Before the weekend, it briefly traded above the 61.8% retracement (~$1.4125) from last month's peak before the weaker than expected retail sales sent it back to$1.40, where it just missed pushing through the previous day's low. A break of $1.3975 could signal a likely return to $1.3765-$1.3800. The technical indicators are mixed, with the RSI and MACDs still trending lower, while the Slow Stochastic crossing higher.”
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