GBP/USD eyes 1.22

٢ مارس ٢٠١٧

Pair daily close yesterday below 1.2346 followed by a drop to 1.2270 coupled with the bearish RSI and a bearish crossover on the DMI suggests the retreat from the recent high of 1.2569 could be extended to 1.22 levels by Friday's European/early US session.

Profit taking could come-in ahead of the weekend, hence significant losses below 1.22 are unlikely.