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Jul 10 - 11:00 PM
GBP/USD - 1.2500 Strikes A Base, But Negative Setup Remains
First appeared on eFXplus on Jul 10 - 09:10 PM
  • Flat after opening up 0.4% with an inside day on broad Fed led USD weakness
  • Housing sector shows signs of life, but caution remains RICS nU8N1E300A
  • Charts show neutral momentum studies, 5, 10 & 21 daily and weekly MAs fall
  • Bearish setup, 1.2409 flash crash and 2019 low remains initial major support
  • Close above 1.2611 falling 21 DMA needed to undermine the downside bias
  • 1.2500 420M strikes and NY 1.2521 high are first support/resistance

gbp jul 11 Click here

Source:
Refinitiv IFR Research/Market Commentary

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