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Feb 02 - 07:55 PM

GBP/USD - Race Between Virus And Vaccination - Charts Support

By Andrew M Spencer  —  Feb 02 - 06:43 PM
  • Touch softer - closed little changed, after reversing off 1.3611 in NY

  • UK virus developed concerning mutation in small number of cases nL8N2K82I5

  • Race between vaccine rollout and changing virus continues nL8N2K81GE

  • Charts; 10 & 21 daily weekly and monthly moving averages trend higher

  • 1.3768 Upper 21 day Bollinger band capped trend and remains major resistance

  • Close below rising 1.3650 21 DMA needed to undermine primary uptrend

  • Sterling is resilient in the fast vaccine rollout, next move likely USD led

  • NY 1.3611 low and London 1.3710 high initial support-resistance

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Source:
Refinitiv IFR Research/Market Commentary

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