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Mar 29 - 08:55 PM

GBP/USD - Cross Flows Cap, As Technical Signals Turn Negative

By Andrew M Spencer  —  Mar 29 - 07:30 PM

  • Steady and opened unchanged, despite a softer USD, as EUR/GBP +0.9% capped

  • Risk on - Ukraine-Russia peace talks progress - west sceptical nL5N2VV66A

  • UK wants full withdrawal of Russia from Ukraine, PM's spokesman nS8N2SO02K

  • If progress on the Ukraine tragedy gains traction, USD will correct lower

  • Charts; momentum studies - 5, 10 & 21 daily moving averages edge south

  • 21 day Bollinger bands contract - mixed signals have turned bearish

  • Targets a test of 1.3000 March and 20220 trend low

  • 1.3157 overnight high is initial resistance

For more click on FXBUZ


gbp Mar 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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