Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Aug 06 - 09:55 PM

GBP/USD - Charts Suggest The Next Move Is Up

By Andrew M Spencer  —  Aug 06 - 07:45 PM
  • Steady after closing up 0.35% amid broad USD weakness post nonfarm payrolls

  • No market-moving weekend news - USD and risk appetite to lead GBP in Asia

  • Charts, mixed daily momentum studies, 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages edge lower - net a modest downside bias

  • Thursday's rebound off 1.2627 61.8% May/July rise left a hammer reversal

  • Friday's close above Thursday's 1.2725 high confirmed the bullish signal

  • Initial target is a test of 1.2820, 38.2% of the July/August fall

  • New York 1.2689-1.2791 range is the initial support and resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved
!