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Apr 19 - 01:55 PM

GBP/USD - Yen Help Keep 1.3000 Magnetic But Lower Levels Are Likely

By Christopher Romano  —  Apr 19 - 11:45 AM
  • US$ =USD broadly higher on interest rateUS10YT=RREDM3 rallies

  • Overnight GBP/USD rally toward 10-DMA rejected, pair turns negative

  • 1.2980 neared in early NY trading, pair then lifts toward 1.3000

  • Big GBP/JPY rally toward 167.50 likely helps to limit GBP/USD's downside

  • GBP/USD techs are bearish; daily, monthly RSIs falling, 10-DMA caps gains

  • Shorts likely need break of/sustained hold below 1.2970/00 for more control

  • Oct & Nov 2020 low targeted by shorts if the down trend should extend

  • For more click on FXBUZ

gbpusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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