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Oct 12 - 08:55 PM

GBP/USD - Key Resistance Caps Ahead Of Major Event Risk

By Andrew M Spencer  —  Oct 12 - 07:56 PM

  • Steady after closing a touch softer - resilient to modest broad USD strength

  • EU-UK approach end game on Brexit/N Ireland - no compromise yet nL1N2R81BT

  • With a potential EU-UK trade war still viable - this weeks talks key for GBP

  • Charts; momentum studies, 5, 10 & 21 daily moving averages conflict

  • 21 day Bollinger bands contract - neutral signals but primary trend is lower

  • Targets another test of 1.3419, 38.2% of the May 2020 to June 2021 rise

  • 1.3628 21 DMA caps on close, 1.3630 break targets 1.3817 upper 21 day Bolli

  • 1.3600 374M strikes today may cap cable in Asia unless there is news

For more click on FXBUZ


gbp Oct 13 Click here

Source:
Refinitiv IFR Research/Market Commentary

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