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Jun 24 - 03:55 PM

GBP/USD - Anchored By Its 10-DMA, Caught In 1.2325-1.2160 Range, For Now

By Paul Spirgel  —  Jun 24 - 02:10 PM
  • GBP$ soft into close, ending NY flat by 1.2257; NorAm range 1.2319-1.2254

  • Rise above 1.23 after UMich sentiment-conditions dip reversed into NorAm cls

  • Dismal UK retail sales good enough for sterling nL1N2YB0YO

  • Pair remained w/in weekly 1.2325-1.2163 actively testing both sides

  • Support at 10-DMA by 1.2218, 1.2170's 50% of 1.1934-1.2405

  • Sub-1.2170, control shifts to bears who target the lwr 30-d Bolli at 1.2078

  • Res at 1.2325's Jun 21 high, the falling 21-DMA at 1.2385, 30-DMA by 1.2417

Source:
Refinitiv IFR Research/Market Commentary

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