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Apr 27 - 09:55 PM

GBP/USD - Key Support Held, But Remains Vulnerable

By Andrew M Spencer  —  Apr 27 - 07:50 PM

  • Off 0.1% extending Wednesday's 0.2% loss amid broad USD strength

  • UK car production in March weakest since '09 financial crisis nB8N2QH00L

  • Manufacturing COVID supply chain issues magnified by Ukraine-Russia conflict

  • Charts; momentum studies, 5, 10 & 21 day moving averages head lower

  • 21 day Bollinger bands expand - strong bearish trending setup

  • 1.2496, 61.8% of the 2020-2021 rise tested Wednesday - key support

  • Sustained 1.2490 break would open the door to 1.2360 low in July 2020

  • Close above 1.2840 10 day moving average to undermine downside bias

    For more click on FXBUZ


gbp apr 28 Click here

Source:
Refinitiv IFR Research/Market Commentary

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