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Jun 04 - 11:00 PM

GBP/USD - Profit Taking In A Slow Session, Brexit Brews

By Andrew M Spencer  —  Jun 04 - 12:05 AM
  • -0.25%, as markets saw a little profit taking in a quiet 1.2526-1.2579 range

  • Price action and volumes very different to earlier in the hectic week

  • E-Mini S&P gave up early 0.2% gains to trade -0.3%, Nikkei & AsiaxJP +0.1%

  • POLL - GBP to slide if UK doesn't seek a Brexit talks extension nL8N2DG35Q

  • Recent sterling strength is all about USD weakness and the risk rebound

  • Charts; momentum studies, 5, 10 & 21 DMAs head north, positive setup

  • 1.2581 upper 21 day Bollinger suggests overbought - buy dips not breaks

  • Trend targets a test of the 1.2648-75 area April high and the 200 DMA



gbp 2 jun 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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