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Jun 16 - 08:55 PM

GBP/USD - Range To Hold Unless There Is Game Changing News

By Andrew M Spencer  —  Jun 16 - 07:30 PM
  • Flat after Tuesday's 0.26% fall, driven by broad USD strength

  • UK 'breakthrough' drug for seriously ill COVID-19 patients nL8N2DT3ME

  • U.S. doctors sceptical of reported COVID breakthrough nL1N2DT2M0

  • Charts; momentum studies flat line, 5, 10 & 20 DMA's conflict

  • Neutral setup supports GBP entering a period of choppy consolidation

  • 1.2443, 50% May-June rise and 1.2812 June high are viable range parameters

  • Sustained break of the range would likely be a directional signal

  • NY 1.2553-1.2681 range is initial support-resistance

gbp jun 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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