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Aug 19 - 01:55 PM

GBP/USD - Flips To Negative YTD, Dip Below Lower 30-D Bolli Targets July Low

By Paul Spirgel  —  Aug 19 - 01:21 PM
  • GBP/USD ending NY on session low 1.3652, -0.73%; Thurs range 1.3754-1.3652

  • Pair flips to negative for 2021, -0.08%; down 4.18% from Jun 1 2021 high

  • COVID case rises, hawkish Fed rhetoric ramp-up; kiwi hike delay weigh on GBP

  • Break below 30-lwr Bolli targets lwr 30-w Bolli 1.3609, Jul 20 low 1.3573

  • Bulls need a rise abv the 10-DMA by 1.3810 to wrest control from bears

  • GBP broadly weak, slips 0.55% versus EUR, 0.72% against the yen

  • EUR/GBP consolidating abv key 10-WMA at 0.8552; next significant res 30WMA by 0.8616

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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