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Mar 24 - 08:36 PM

GBP/USD - Base Below 1.1500 - Sustained 10 DMA Break To Confirm

By Andrew M Spencer  —  Mar 24 - 07:20 PM
  • +0.1% after yesterday's 1.9% bounce as stocks/risk jumped nL4N2BH2RN

  • UK calls for 250,000 volunteers as virus deaths surge nL8N2BH37D

  • Charts; 10 & 21 daily weekly and monthly MAs trend south - negative setup

  • Resilient below 1.1500, which was the 2016 post Brexit vote base last week

  • Choppy consolidation - lower 21 day Bolli 1.1316 - no longer over sold

  • Sustained break of 1.1907 falling 10 DMA needed to undermine bearish bias

  • NY 1.1686-1.1800 range is initial support-resistance



gbp mar 25 Click here

Source:
Refinitiv IFR Research/Market Commentary

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