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Mar 31 - 03:55 PM

GBP/USD - Bid Ahead Of Recent Trend Low Sub-1.37, Eyes 30-DMA By 1.3903

By Paul Spirgel  —  Mar 31 - 01:57 PM
  • GBP/USD ending NY +0.43% at 1.3798, Wednesday range 1.3814-1.3717

  • Month-end, pre-holiday/NFP position squaring sees light USD long unwind

  • Euro woes a sterling ally against dollar strength nL1N2LT1N7

  • Res 1.3824, the 55-DMA, then 30-DMA 1.3903, bulls gain control abv dly cloud

  • Support at 1.3715, daily cloud base; then Mar 25 trend low by 1.3671

  • EUR/GBP ends NY 0.8510 down 0.18%, Wed range 0.8537-0.8507

  • EUR longs continue to unwind as EZ lags UK on COVID recovery

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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