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Jun 15 - 09:55 PM

GBP/USD - Steady Initially, As The Charts Turn Bearish

By Andrew M Spencer  —  Jun 15 - 07:41 PM

  • Steady after closing off 0.15% with the USD little changed pre FOMC

  • Conservative report urges government to boldly cut red tape nL2N2NX1WY

  • Report suggests drastic changes in many areas - implementation will be key

  • Charts; daily momentum studies 5, 10 & 21 DMA and 21 day Bolli bands slide

  • Bearish setup to be confirmed by a close below 1.4028, 38.2% April June rise

  • 1.4070 lower 21 day Bollinger band and 1.4035 London low are initial support

  • NY 1.4095 high then 1.4128 late Asian top are first resistance

For more click on FXBUZ


gbp jun 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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