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Jul 30 - 01:55 AM

GBP/USD - 1.4000 Caps As Risk Sours, But Signals Are Positive

By Andrew M Spencer  —  Jul 29 - 11:40 PM

  • -0.05%, towards the base of a 1.3945-1.3971 range, as the USD firmed

  • Subdued Amazon Q3 outlook, fell 7% after hours, weighing on risk in Asia

  • Amazon issues not seen in other major tech results - modest impact likely

  • Month end flows often create short term volatility in sterling

  • Charts; 5, 10 & 21 daily moving averages climb - momentum studies rise

  • Bullish setup after four days of higher highs and seven higher lows

  • 1.3985 upper 21 day Bolli and 1.3991 61.8% June July fall cap at present

  • 1.4000 break opens the door to 1.4090 76.4% retracement of June July fall

    For more click on FXBUZ


gbp 2 jul 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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