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Jul 04 - 09:55 PM

GBP/USD - Downtrend Survives - USD Key For The Next Move

By Andrew M Spencer  —  Jul 04 - 07:49 PM

  • -0.05% early after closing up 0.5%, as the USD fell on U.S. payrolls

  • Johnson to set out plan for final lockdown easing on Monday nL2N2OG0DS

  • UK COVID-19 data looks 'very positive' for lifting lockdown nL9N2JA02K

  • Charts; despite bounce, neutral daily momentum studies, 5, 10 & 21 DMAs fall

  • 21 day Bollinger bands slide - remains a strong bearish trending setup

  • 10 DMA capped repeatedly, and is pivotal resistance, currently at 1.3868

  • 1.3756, 61.8% of the 2021 rise proved resilient - major support

  • Downtrend targets a test of 1.3669 double bottom in March and April

For more click on FXBUZ


gbp jul 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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