GBP poised for gains, oil rally contradicts fundamentals - FuturesTechs

Aug 17, 2016, 01:12 PM

Clive Lambert, Director at FuturesTechs presents his technical view on major markets. Key points are as follows –

GBP/USD – We have a higher low and bullish reversal candle formation. We might see a short squeeze. Short unwind likely with pair revisiting 1.32-1.3315 levels. Support at 1.2962 needs to remain intact

EUR/GBP – Bearish price divergence on daily RSI and MAC…potential for a pull back

USD/JPY – Keeping a very close eye on 100.70

Crude – Oil rally contradicts fundamentals. Could continue to go higher on this one

Gold – not really seeing any kind of decisiveness. $1380 is a major Fib level resistance

FTSE100 – Rule of 9 worked well. Dips could be bought into unless 7860 is breached