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Mar 25 - 09:55 PM

GBP/USD - Support Below 1.3700, But Trend Remains Lower

By Andrew M Spencer  —  Mar 25 - 07:47 PM
  • +0.1%, closed +0.4%, EUR/GBP -0.75% - EUR hit on vaccine woes nL1N2LN0TT

  • Sour EU-UK relations suggest EU likely closed for fin services nL8N2LN73A

  • City is optimistic on attracting more global business, but tough short term

  • Charts; momentum studies, 5, 10 & 21 DMAs head south - bearish setup

  • Targets significant support at 1.3637 - 76.4% of the 2021 rise

  • Close above 1.3779 prior March low needed to undermine downside bias

  • 1.3693 NY low and London 1.3671 early base initial support

  • 1.3755 5 DMA then key prior 1.3779 March low first resistance

For more click on FXBUZ



gbp mar 26 Click here

Source:
Refinitiv IFR Research/Market Commentary

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