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Jul 09 - 01:55 AM

GBP/USD - Remains Bid, But 1.2700 Looks A Tough Nut To Crack

By Andrew M Spencer  —  Jul 08 - 11:55 PM
  • Touch former in a 1.2605-1.2630 range - busy once Asia fully opened

  • Buyers return to COVID-hit UK property market in June - RICS nL9N2DP00A

  • Techs; momentum studies climb, 5, 10 & 21 DMAs conflict - neutral setup

  • 1.2668-98 now key resistance, upper 21 day Bolli, 76.4% June fall & 200 DMA

  • Lower 21 day Bolli rejected in June, close above 1.2490 21 DMA was positive

  • Targets a test of the falling 1.2693 upper 21 day Bollinger band

  • London 1.2509 low first support, then 1.2473 10 DMA the pivotal level

For more click on FXBUZ



gbp 3 jul 9 Click here

Source:
Refinitiv IFR Research/Market Commentary

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