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Aug 22 - 08:55 PM

GBP/USD - Downtrend Remains Live - USD Key For The Next Move

By Andrew M Spencer  —  Aug 22 - 08:03 PM

  • Touch firmer after closing softer on Friday - USD leads cable downtrend

  • No market moving news, as Delta variant battle continues nS8N2K20BQ

  • Charts; momentum studies, 5, 10 & 21 daily and weekly moving averages slide

  • 21 day Bollinger bands expand - strong bearish trending setup

  • 1.3634 falling lower 21 day Bollinger band suggests oversold short term

  • Fall targets a test of 1.3572 July trend base, with 1.3451 2021 base below

  • 1.3641 high on Friday and 1.3760 10 day moving average are key resistance

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gbp aug 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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