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Sep 30 - 09:55 PM

GBP/USD - Healthy Bounce Leaves The Downtrend In Place

By Andrew M Spencer  —  Sep 30 - 08:14 PM

  • Touch softer after bargain hunting an month end flow saw a 0.35% bounce

  • Britain-Norway power link fires up amid rocketing energy prices nL8N2QW53Q

  • UK struggles as supply chain problems grow, despite strong Q2 nL8N2QW1IT

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

  • 21 day Bollinger bands expand - strong bearish trending setup

  • 1.3419, 38.2% May 2020 to 2021 top is initial resilient support

  • 1.3594 falling 10 DMA capped recently - now pivotal resistance

For more click on FXBUZ


data Oct 1 Click here

Source:
Refinitiv IFR Research/Market Commentary

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