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Apr 22 - 03:55 PM

GBP/USD - Probe Below Daily Cloud Puts Pressure On 10-DMA Support By 1.3830

By Paul Spirgel  —  Apr 22 - 01:42 PM
  • GBP/USD ending NY offered, -0.65% at 1.3836, Thurs range 1.3949-1.3825

  • COVID angst & mixed CBI data weigh on GBP; upbeat Click here stirs EUR/GBP rise

  • Sterling slides amid COVID angst and EUR/GBP buying nL1N2MF1FE

  • Close sub-1.3839, 50% of 1.3670-1.4009 April range dents bullish structure

  • Next supt 1.3808, the 21-DMA; then 1.3717 the April 16 low

  • Bulls eye a rise above the daily cloud top at 1.3956 to arrest bearish tones

  • EUR/GBP +0.34% to 0.8679, Thurs range 0.8702-0.8637; cross gaining as EZ-UK COVID, growth views converging

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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