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