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Apr 11 - 09:55 PM

GBP/USD - Uptrend Stalled, But Signals Remain Constructive

By Andrew M Spencer  —  Apr 11 - 07:35 PM

  • Steady after closing up 0.35%, with the USD broadly softer, =USD -0.35%

  • UK house sales at pre-COVID levels after 'mini-budget' shock - Rightmove

  • Data shows the UK property market remains resilient, despite dour forecasts

  • Expecting a tight USD/risk led Asian range ahead of U.S. CPI tonight

  • Charts; 10 & 21 day moving averages climb with the 21 day Bollinger bands

  • Mixed momentum studies - uptrend has stalled, but signals are net positive

  • Sustained break of the 1.2321 rising 21 DMA would turn the bias to lower

  • NY 1.2407 low and London 1.2456 high are initial support, resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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