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Jun 22 - 08:55 PM

GBP/USD - Bid As Risk And The USD Lead - 1.2536 Pivotal

By Andrew M Spencer  —  Jun 22 - 07:20 PM
  • +0.15% after closing up 1% with a bullish outside day, as the USD slid

  • Bounce driven by broad increased risk appetite and USD weakness

  • Outside day reversal signal would be confirmed by a close above 1.2477

  • Charts; momentum studies fall, bearish 5 DMA cross of 10 & 21 DMAs

  • Negative setup targets 1.2249, 76.4% May-June rise longer term

  • Close above 1.2536 falling 10 DMA would end the downside bias

  • London 1.2380 low and 1.2521 21 DMA are initial support-resistance

gbp jun 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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