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Sep 24 - 08:55 PM

GBP/USD - Bid On Positive Data - Fall Stalled At The 200 DMA

By Andrew M Spencer  —  Sep 24 - 07:40 PM
  • +0.1% after closing up 0.15%, as the 1.2721 200 DMA remains a magnet

  • UK consumer confidence rises to highest since lockdown: GfK nL3N2GL3IE

  • UK car production fell an annual 45% in August - SMMT nL5N2GL4BR

  • Charts; 5, 10, 21 DMAs, 21 day Bollinger bands and momentum studies fall

  • Bearish setup, but 1.2722 200 DMA has been a magnet - likely only short term

  • Sustained break will target 1.2542, 76.4% of the June-September rise

  • Close above the 1.3006 falling 21 DMA would bea positive signal

  • NY 1.2708 low and London 1.2780 high initial support-resistance

For more click on FXBUZ


gbp sep 25 Click here

Source:
Refinitiv IFR Research/Market Commentary

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