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Jun 27 - 09:55 PM

GBP/USD - Bid Early, But Downtrend Gains Traction

By Andrew M Spencer  —  Jun 27 - 07:59 PM

  • +0.2% after closing off 0.3% on Friday, as the downtrend gains traction

  • UK, Singapore launch talks on digital trade agreement nL5N2O907H

  • UK bans Binance's UK ops in latest cryptocurrency crackdown nL2N2O90BH

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

  • 21 day Bollinger bands ease - bearish setup suggest s further losses

  • 10 DMA capped Wednesday and Thursday, now 1.3931 - pivotal resistance

  • Longer term target is a test of 1.3756, 61.8% of the 2021 rise

  • NY 1.3870-1.3931 range is initial support and resistance

For more click on FXBUZ


gbp jun 28 Click here

Source:
Refinitiv IFR Research/Market Commentary

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