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Jun 14 - 01:55 PM

GBP/USD - Shorts Look For Key Support Breaks After The Fed

By Christopher Romano  —  Jun 14 - 12:28 PM
  • GBP/USD failed to rally above 1.4250 on June 1, has slid since then

  • 30-DMA probed twice since, 30-DMA helped limit pull backs since Oct.

  • 1.4000 area is structural support & t-l off June 2020 low is just below

  • Daily RSI is falling, implies downside momentum in place for now

  • Fed risk looms and result could lead to break of those supports

  • If Fed shift to a less accommodative stance US$ is likely to rally

  • GBP/USD support might break, bears then eye support near 1.3800, 1.3675

  • For more click on FXBUZ




gbp/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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