TechnoMeter

GBP/USD is poking above the 1.5880 mark in the wake of a Harami pattern. A close above the barrier would help confirm the key reversal formation and open the prospect of a more sustained recovery. Selling interest would likely be renewed at the 1.6170 ceiling. A slide back below 1.5880 would see the risks skewed towards the Mid-September 2013 low near 1.5770.

Harami Awaits Confirmation Near Key Barrier



The four hour chart offered an early bounce signal in the form of a Morning Star formation. With bearish patterns seemingly lacking a push higher over the session ahead may be achievable. Yet it should be monitored closely for signs of exhaustion that could be evidenced by Doji candlesticks.

Lacking Reversal Signs In Intraday Trade



By David de Ferranti, Currency Analyst, DailyFX

More...