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Jul 07 - 08:55 PM

GBP/USD - Downtrend Remains In Play Into Johnson's Big Gamble

By Andrew M Spencer  —  Jul 07 - 07:28 PM

  • Steady after closing little changed, resilient against the firmer USD

  • UK house prices rise by most since 1988, but begin to cool nL8N2KG3XM

  • COVID-19 infections in England have quadrupled since June nL5N2OJ4W8

  • PM Johnson betting the vaccination rollout will prevent hospitalizations

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

  • 21-day Bollinger bands slide - Tuesday's dip leaves downtrend in play

  • Targets a test of the 1.3733 July base then 1.3669 March/April double bottom

  • 1.3930 is pivotal resistance, 38.2% of the June/July fall and the 21 DMA

    For more click on FXBUZ


gbp jul 8 Click here

Source:
Refinitiv IFR Research/Market Commentary

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