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Jul 21 - 01:55 AM

GBP/USD - Shade Softer, Ahead Of Potential EU Brexit Conflict

By Andrew M Spencer  —  Jul 20 - 11:37 PM

  • -0.05% in a low key session - 1.3609-1.3642 range with the USD firmer

  • UK recovery cools in June despite hospitality surge - Lloyds nL8N2OW3WO

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

  • 21 day Bollinger bands expand - signals add up to a strong bearish setup

  • Sustained break of 1.3697 200 DMA, a base since Sep 2020, strong negative

  • Close above 1.3815 21 daily moving average needed to downside bias

  • Next significant support comes in at 1.3451/63, 2021 low & 50% Sep/Jun rise

  • Firm USD, potential EU conflict suggest sterling slide extends nL1N2OX00B

For more click on FXBUZ


gbp 2 jul 21 Click here

Source:
Refinitiv IFR Research/Market Commentary

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