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Jun 18 - 11:55 PM

GBP/USD - Consumer Bounce Into Retail Sales - Charts Bearish

By Andrew M Spencer  —  Jun 18 - 11:30 PM
  • Flat at the top of a 1.2405-1.2431 range with only occasional interest

  • UK consumer sentiment strongest since COVID lockdown began- GfK nL8N2DV5JI

  • Charts, momentum studies slip, 5, 10 & 22 DMA's conflict - modest negative

  • Upper 21 day Bolli rejection & 1.2497 21 DMA break targets 1.2160 lower band

  • 1.2357 61.8% May-June rise is initial significant support - break bearish

  • Earlier 1.2405 low and 1.2497 21 DMA first support-resistance

  • 1.2415 200M and 1.2500 280M are today's close strikes

  • See the first chart for retail sales polls

ukdata jun 19 Click here

gbp 2 jun 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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