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Jul 26 - 07:55 PM

GBP/USD - Poised Below Key Resistance To Start The Week

By Andrew M Spencer  —  Jul 26 - 06:55 PM
  • Touch softer after closing up 15 on Friday and 1.8% on the week

  • Current strength driven by broad USD weakness led by U.S.-China tensions

  • Techs - momentum studies, 5, 10 & 21 DMAs head north - bullish setup

  • Last week's sustained 1.2703 200 DMA break remains a strong positive

  • 1.2812 June high under pressure - break to target 1.3020, 76.4% 2019/20 fall

  • Close below 1.2584 21 DMA, a recent base, needed to undermine topside bias

  • 1.2718 London low and NY 1.2803 top are initial support-resistance

  • For more click on FXBUZ

gbp jul 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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