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Feb 23 - 11:55 PM

GBP/USD - Close Key, As Major Resistance Caps A Hectic Session

By Andrew M Spencer  —  Feb 23 - 10:08 PM
  • +0.4% - hectic 1.4111-1.4295 range, after a mid morning JPY cross surge

  • GBP/JPY jumped 1.3% from 148.50, through the 148.85 2019 high to test 150.00

  • No real news behind the moves - significant demand in GBP, AUD and NZD

  • Soft close could trigger a correction with a major top in place at 1.4300,

  • Charts; 5, 10 & 21 daily weekly and monthly moving averages trend north

  • 1.4303, 50% 2014-2020 fall capped - 1.4377 2018 high next resistance

  • Close below 1.3966 rising 10 DMA would undermine the topside bias

  • 1.4128 rising upper 21 day Bollinger band a magnet - overbought here

For more click on FXBUZ


gbp 3 feb 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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