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Aug 23 - 03:48 AM
GBP/USD - Sellers Into The Unexpected Bounce Dominate
First appeared on eFXplus on Aug 22 - 11:25 PM
  • -0.2% in Asia, at the base of a 1.2235/1.2264 range with solid volume
  • EUR/GBP was also busy in a 0.9040/0.9051 range and trades +0.1%
  • GBP sellers into yesterday's 1.1% bounce led - an opportunity?
  • Daily charts suggest short term base in place, weekly charts remain bearish
  • Break above 1.2151 21 DMA with a bullish 5 DMA cross of 10 & 21 DMAs
  • Close above 1.2309, 38.2% June/August fall would be positive for next week

gbp3 aug 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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