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Thomson Reuters
Aug 08 - 09:48 PM
GBP/USD - Brexit Pressure Builds - Next Stop 1.2774
First appeared on eFXplus on Aug 08 - 07:40 PM
  • Tight early range after closing -0.5% On Brexit fears & EUR/GBP demand
  • BoE's McCafferty - hard to see how Brexit will improve UK's trade position
  • Momentum studies, 5, 10 & 21 daily & weekly MAs head lower - bearish setup
  • Close below 1.2898 61.8% 2017/18 rise was a strong negative signal
  • Next stop is 1.2774 Aug 2017 base - 1.3082 21 DMA is pivotal resistance
  • NY 1.2854/1.2898 range is initial support resistance

gbp aug 9 Click here

Source:
Thomson Reuters IFR Markets

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