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
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Source:
Refinitiv IFR Research/Market Commentary