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Apr 29 - 09:55 PM

GBP/USD - Resilient To USD Strength, As 1.4000 Beckons

By Andrew M Spencer  —  Apr 29 - 08:00 PM

  • +0.05% after closing a touch firmer, resilient to a modest USD bounce

  • GBP 671 mln 1.3900 strikes and 560 1.4000 strikes define the broad range

  • No significant UK news to impact sterling, so attention swings to the charts

  • Techs; momentum studies, 5, 10 & 21 daily moving averages climb

  • 21 day Bollinger bands head higher - a positive trending setup

  • Targets resistance above 1.4000 - range top in Feb/March - 61.8% 2021 fall

  • 1.3851 21 DMA and 1.3799 61.8% April bounce are key supports

  • London 1.3932 low and NY 1.3965 high are initial support and resistance

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gbp apr 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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