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Feb 19 - 11:55 PM

GBP/USD - Eases, As The USD Firms Amid Cautious Asian Markets

By Andrew M Spencer  —  Feb 19 - 10:15 PM
  • Off 0.1%, trading at the base of a 1.2580/1.2593 D3 range with the USD +0.1%

  • Muted response to the China 25pt 5yr LPR cut - no bounce in risk appetite

  • UK Monetary Policy Report Hearings will be interesting after recent data

  • Charts; 5, 10 & 21-DMA's track lower with the 21-day Bollinger bands

  • Neutral daily momentum studies - a modest negative setup near the range base

  • There is major support ahead of 1.2500 - first last week's 1.2536 low

  • 1.2524 is 38.2% of the Oct/Dec rise and the 1.2501/04 Dec double-bottom

  • Close above 1.2641 21-DMA would suggest another test of the 1.2800 range top

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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