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Feb 04 - 11:00 PM

GBP/USD - Bullish Strategists, But Range Continues To Rule

By Andrew M Spencer  —  Feb 04 - 10:00 PM
  • -0.1% with moderate interest and EUR/GBP flat, as the USD firmed a touch

  • Poll of strategists forecast GBP to be up almost 0.4% in a year nL8N2A42UP

  • 1.2953-1.3161 21 day Bolli bands have been tested and held on close

  • Volatility increased, but choppy consolidation remains the dominant theme

  • Momentum studies edge lower, 5, 10 & 21 DMAs coil - little bias

  • 1.2900/20 December low and 38.2% Sep-Dec 2019 rise is pivotal support

  • NY 1.3009 low and earlier 1.3038 Asian high initial support-resistance

gbp 3 feb 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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