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Thomson Reuters
Oct 02 - 09:48 PM
GBP/USD - Downside Pressure Builds, As Politics Undermine
First appeared on eFXplus on Oct 02 - 08:30 PM
  • Little changed in early Asia after closing -0.5% amid broad USD strength
  • Conservative Party infighting continues, May to rally support nL8N1WI5PB
  • Turmoil within the ruling party makes it hard to be a GBP optimist
  • GBP momentum studies edge lower, bearish 5 DMA cross of 10 & 21 DMAs
  • Negative setup, close below 1.2904, 61.8% Aug/Sep rise would confirm
  • London 1.2941 low & NY 1.2995 high initial support/resistance

gbp oct 3 Click here

Source:
Thomson Reuters IFR Markets

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