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Jun 17 - 09:55 PM

GBP/USD - Key Support Held, But The Downtrend Is Strong

By Andrew M Spencer  —  Jun 17 - 07:57 PM

  • +0.05% after closing -0.4% on USD strength, as key 1.3891 Fibo support held

  • England invites all adults to get their COVID-19 vaccines nL5N2NZ3E4

  • Race between expanding COVID-19 and vaccination key for the economy

  • Charts; daily momentum studies 5, 10 & 21 daily moving averages slide

  • 21 day Bollinger bands expand - signals support a strong trending setup

  • 1.3963 lower 21 day Bolli band indicates cable is oversold short term

  • 1.3891 61.8% April June rise then 1.3806 76.4% are initial support

  • 1.3960-85 456M strikes then Thursday's 1.4009 Asian high first resistance

    For more click on FXBUZ


gbp jun 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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