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Mar 19 - 08:36 PM

GBP/USD - Fresh Trend Low, As Insatiable USD Demand Continues

By Andrew M Spencer  —  Mar 19 - 06:55 PM
  • Off 0.4%, recording a fresh 1.1413 low, as broad based USD demand continues

  • BoE's second round of stimulus saw a short lived move to 1.1792 nL1N2BC1KS

  • Relentless USD demand could attract a coordinated response nL1N2BC2KY

  • Charts; 5, 10 & 21 daily weekly and monthly MAs trend south - negative setup

  • Close below 1.1491 Brexit vote low was a significant bearish signal

  • There is little support on the charts until 1.0800 all time low in 1985

  • Cable is technically way oversold, but catching a falling knife is dangerous


gbp mar 20 Click here

Source:
Refinitiv IFR Research/Market Commentary

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