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Jun 14 - 02:55 AM

GBP/USD - Bounced On Bargain Hunting - Outlook Is Negative

By Andrew M Spencer  —  Jun 14 - 12:10 AM

  • +0.25% on cable bargain hunting and broad based yen cross demand in Tokyo

  • Trades at the top of a 1.2131-1.2182 range with plenty of interest on D3

  • UK sets out legislation to override parts of post-Brexit N. Ireland protocol

  • Move opens the door to EU-UK trade barriers at some point nL1N2Y00BF

  • 52 of 90 in Northern Ireland assembly are against the UK's protocol changes

  • Charts - momentum studies, 5, 10 & 21 DMAs head lower - bearish setup

  • Targets a test of 1.2082, 76.4% of the 2020 - 2021 rise

  • Friday's 1.2302 low then Monday's 1.2325 top initial resistance

    For more click on FXBUZ


gbp 2 jun 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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