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Sep 15 - 09:55 PM

GBP/USD - Base Forming Above Key Support, Charts Point Lower

By Andrew M Spencer  —  Sep 15 - 07:45 PM
  • Flat after closing up 0.4%, as jobs beat forecasts nL8N2GC139

  • UK moved to break Brexit trade talks fisheries deadlock nL8N2GC3SX

  • First sign of a compromise from the UK in one of the key trade talk issues

  • Techs; 5, 10 and 21 DMAs fall, 21 day Bollinger bands expand - bearish setup

  • 1.2739 lower 21 day Bolli band suggests market no longer oversold

  • Bias to the downside while closes below the falling 1.2993 10 DMA

  • 1.2721-1.2137 remains major support, 61.8% June-September rise and 200 DMA

  • NY 1.2842 low and London 1.2927 high is initial support-resistance

For more click on FXBUZ


gbp sep 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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