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Jul 25 - 11:55 PM

GBP/USD - Glimmer Of COVID-19 Hope - Charts Remain Negative

By Andrew M Spencer  —  Jul 25 - 11:29 PM

  • -0.05%, at the base of a 1.3741-1.3760 range - busy mid morning, then quiet

  • British new COVID-19 cases have moved lower for 5 days nL1N2P10BO

  • Early days but perhaps the UK is turning the corner on the Delta variant

  • Charts; 10 & 21 daily moving averages fall despite the recent bounce

  • 21 day Bollinger bands slide, neutral momentum studies - negative setup

  • Targets a test of initial significant support at the 1.3572 July low

  • Close above 1.3797 21 daily moving average needed to end downside bias

  • London 1.3720 low and Asian 1.3760 high initial support and resistance

    For more click on FXBUZ


gbp 2 jul 26 Click here

Source:
Refinitiv IFR Research/Market Commentary

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