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Mar 30 - 01:55 PM

GBP/USD's Shallow Bounces Hint At Further Tests Of Trend Lows Sub-1.37

By Paul Spirgel  —  Mar 30 - 01:28 PM
  • GBP/USD -0.28% at 1.3722 into NorAm close; Tuesday range 1.3783-1.3706

  • UK lockdowns lifting hints at improved UK growth view relative to Europe

  • Sterling outperforms euro, yen in slide but more losses ahead nL1N2LS16I

  • Recent tests of 1.3674, 50% of 1.3108-1.4240 rise hints at further weakness

  • Below 1.3674, 100-DMA at 1.3639 & daily cloud base at 1.3626 in focus

  • Bullish tone fading, bounces shallow; bulls need to retake 30-DMA (1.3904)

  • EUR/GBP ends NY -0.1% at 0.8538, Tues range 0.8556-12; more upbeat COVID outlook lifts GBP

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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