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Jun 23 - 09:55 PM

GBP/USD - Strong Close Confirms A Positive Technical Setup

By Andrew M Spencer  —  Jun 23 - 07:35 PM
  • Flat after closing up 0.4%, as the USD moved broadly lower

  • Better UK PMI's supported nL8N2DZ4DR, but risk and the USD lead cable

  • Charts; momentum studies, 5, 10 & 21 DMAs conflict - neutral setup

  • Monday's bullish outside day now a key day reversal - suggests further gains

  • Close above under pressure 1.2516 falling 10 DMA would confirm positive bias

  • London 1.2434 low and NY 1.2532 high initial support-resistance



gbp jun 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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