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Jun 03 - 01:55 AM

GBP/USD - Sterling Back In A Range Ahead Of U.S. Payrolls

By Andrew M Spencer  —  Jun 02 - 11:41 PM

  • Steady at the base of a very tight, quiet 1.4166-1.4178 Asian range

  • Markets appear in a holding pattern, awaiting Friday's U.S. payrolls

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

  • 21 day Bollinger bands contract - neutral setup at familiar levels

  • Break of tested 1.4126 21 DMA would be bearish - l.4092 range low pivotal

  • Mixed signals suggests 1.4090-1.4250 consolidation since mid May can extend

  • 1.4126 21 DMA and NY 1.4182 high are first support and resistance

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gbp 2 jun 3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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