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May 17 - 11:00 PM

GBP/USD - Key Support Broken, UK Planning For No Deal Brexit

By Andrew M Spencer  —  May 17 - 07:00 PM
  • Off 0.1% after Friday's 1.1% fall, as Brexit stalemate weighs nL8N2CX2EM

  • EU & UK differences are fundamental - UK planning for no deal nL8N2CZ08F

  • BoE studying all economy aid options, including negative rates nL8N2CY0NI

  • Charts; daily momentum studies, 5, 10 & 21 DMAs slip - negative setup

  • GBP tracks falling 1.2090 lower 21 day Bolli band - sell strength not breaks

  • Close below 1.2166-76, April low & 38.2% Mar-Apr rise strong bearish signal

  • Longer term targets, 1.1885 61.8% March-April rise then 1.1413 March low

  • 1.2050 227M strikes & 1.2166 April low initial support-resistance



gbp may 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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