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Apr 27 - 01:55 AM

GBP/USD - Oversold Short Term, But 1.2500 Test Beckons

By Andrew M Spencer  —  Apr 27 - 12:15 AM

  • +0.1% in a 1.2560 - 1.2590 range in a busy session on D3

  • U.S., UK trade officials to meet for 3rd round of talks in Boston

  • Broad U.S.-UK trade agreement a long term work in progress nL2N2WO373

  • Charts; momentum studies, 5, 10 & 21 day moving averages head lower

  • 21 day Bollinger bands expand - strong bearish trending setup

  • Targets a test of 1.2496, 61.8% of the 2020-2021 rise

  • Close above 1.2897 10 day moving average to undermine downside bias

  • Asian 1.2560 low and NY 1.2697 high initial support and resistance

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gbp 2 apr 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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