Chart Of The Day: GBP/USD
Blake Morrow | Oct 19, 2021 06:17PM ET
GBP/USD is within close proximity of the 200-day moving average, and just below today's highs at the 50% retracement at the 1.3829 level.
Overnight, the risk may be for a probe into the 200-day moving average, but the bears may attempt to hold the 200-day moving average to keep Sterling holding lower highs, which in essence is keeping the bearish trend in tact near term. A move below the 1.3700 level would mean the corrective bounce is now over.
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