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Apr 15 - 01:55 AM

GBP/USD - Range Base Resilient - 1.3919 April Top Beckons

By Andrew M Spencer  —  Apr 14 - 11:38 PM

  • Flat with only moderate interest in a 1.3767 - 1.3794 range

  • No significant news in Asia - modest local market moves - E-mini S&P +0.1%

  • Charts; momentum studies base, 5, 10 & 21 daily moving averages coil

  • 21 day Bollinger bands contract - neutral setup, as the range dominates

  • Strong support around 1.3650 - major news or USD surge needed to break

  • 1.3670 March/April low, 1.3647 lower 21 day Bolli, 1.3637, 76.4% 2021 rise

  • 1.3670-1.3919 range dominates - failure at the base suggests topside next

  • NY 1.3750 - 1.3799 range is initial support resistance

    For more click on FXBUZ


gbp 2 apr 15 Click here

Source:
Refinitiv IFR Research/Market Commentary

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