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Jun 11 - 02:55 AM

GBP/USD - Support Developing But Key Resistance Close By

By Peter Stoneham  —  Jun 11 - 01:35 AM
  • Support area developing just under 1.2700

  • Bounce off 1.2689 Monday and close at 1.2730

  • Climb above 10-day moving average, 1.2752, could trigger more of a squeeze

  • Key resistance at Friday's 1.2825 top

  • Still respecting a June 26 1.2561-81 cloud twist, could drag on the pound

  • Fourteen day momentum just clinging to positive values

  • We are happy to wait for stronger signals

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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