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Aug 13 - 01:55 AM

GBP/USD - Signals Slide, As Soft Risk Supports Safe Haven USD

By Andrew M Spencer  —  Aug 12 - 11:39 PM

  • Flat in a very tight 1.3808-1.3816 range with flow in the late morning

  • Soft Asian risk - E-mini S&P and Nikkei flat, Brent -0.6%, AsiaxJP -0.9%,

  • Charts; momentum studies flat line, 5, 10 & 21c daily moving averages slip

  • Bearish cross of 5 and 10 DMA, plus six days of lower daily lows weighs

  • Fall targets likely resilient 1.3776-78, 200 DMA and 50% July bounce

  • Break above 1.3897 August daily trend line needed to end the downside bias

  • NY 1.3794 low and early London 1.3877 high are initial support resistance

For more click on FXBUZ


gbp 2 aug 13 Click here

Source:
Refinitiv IFR Research/Market Commentary

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