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Mar 16 - 02:36 AM

GBP/USD - Resilient, As Market Turmoil Remains Intense

By Andrew M Spencer  —  Mar 15 - 11:05 PM
  • +0.2%, despite a firmer USD in hectic trading, amid Fed & rotten China data

  • Fed's rate cut and USD funding measures drowned by virus fears nL1N2B806D

  • UK manufacturing sector under the pump before the caronavirus nL4N2B64X5

  • Charts, momentum studies, 5, 10 & 21 DMAs head south - negative setup

  • 21 day Bollinger bands are a very good indicator of an over stretched market

  • 1.2426 lower Bollinger band suggests oversold here, sell strength not breaks

  • 1.2250-1.2429 Asian range is initial support-resistance

gbp2 mar 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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