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Jun 21 - 09:55 PM

GBP/USD - Healthy Correction Of The Downtrend - USD Key

By Andrew M Spencer  —  Jun 21 - 07:37 PM

  • Steady after closing up 1%, as risk appetite rebounded and the USD fell

  • Britain begins negotiations to join trans-Pacific trade deal nL5N2O34I6

  • A successful trade deal would be a significant win for the Brexiteers

  • Charts; daily momentum studies 5, 10 & 21 daily moving averages fall

  • 21 day Bollinger bands expand - signals support a strong downtrend

  • Bounce back above 1.3871 lower 21 day Bolli bands eases oversold conditions

  • Downtrend targets a test of 1.3756, 61.8% of the 2021 rise

  • 1.3868 NY low and 1.3963, 61.8% June fall initial support, resistance

    For more click on FXBUZ


gbp jun 21 Click here

Source:
Refinitiv IFR Research/Market Commentary

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