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Sep 15 - 02:55 AM

GBP/USD - Tuesday's Topside Failure Leaves 1.1400 Vulnerable

By Andrew M Spencer  —  Sep 14 - 11:55 PM

  • -0.15% in a 1.1525-1.1549 range, quiet with a flurry late morning on D3

  • UK fin min Kwarteng seeks to scrap curbs on banker bonuses - FT nL1N30L2XI

  • New UK government appears to have abandoned the 'levelling up' strategy

  • Techs: daily momentum studies conflict, 21 day Bollinger bands contract

  • 10 & 21 day moving averages slip, bullish 5 & 10 DMA cross - no strong bias

  • Tuesday's failure at the 21 day moving average, now at 1.1651 was bearish

  • Targets a test of key 1.1407 support, being the September and 2022 low

  • Close above 1.1651 falling 21 day moving average would be a bullish signal

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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