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Nov 22 - 08:55 PM

GBP/USD - November Low Vulnerable As The USD Trends Higher

By Andrew M Spencer  —  Nov 22 - 06:40 PM

  • Touch softer after closing -0.35%, weighed down by broad based USD strength

  • Surging UST yields after Powell confirmed as Fed Chair capped nL1N2SD2OM

  • Charts - 5, 10 & 21 daily and weekly moving averages head lower conflict,

  • 21 day Bollinger bands fall - dip has turned neutral signals bearish

  • Recent consolidation eased oversold signals - lower 21 day Bolli at 1.3272

  • 1.3538 21 day moving average remains pivotal resistance for downtrend

  • Targets a break of 1.3354 Nov low and test of 1.3166, 38.2% 2020-21 rise

  • NY 1.3385 low, and London 1.3449 high are initial support and resistance

For more click on FXBUZ


gbp Nov 22 Click here

Source:
Refinitiv IFR Research/Market Commentary

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