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Aug 26 - 09:55 PM

GBP/USD - Dip Sustains Downside Bias, 1.3800 Pivotal Resistance

By Andrew M Spencer  —  Aug 26 - 07:35 PM

  • Steady after falling 0.45% amid broad base USD strength into Jackson Hole

  • UK rescued 3 families whose contacts were left at Kabul embassy nL1N2PX2WR

  • Choppy consolidation of Monday's bounce looks set to continue in Asia

  • Charts; 21 day Bollinger bands, 10 & 21 daily & weekly moving averages fall

  • Daily momentum studies conflict - mixed signals, but a net bearish setup

  • Fall targets a test of 1.3572 July trend base, with 1.3451 2021 base below

  • 1.3794/1.3800 break, 50% July-August fall, 200 & 21 DMAs ends downside bias

  • NY 1.3690 - 1.3736 range is initial support and resistance

For more click on FXBUZ


gbp aug 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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