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Mar 26 - 01:55 AM

GBP/USD - Offshore Factors Lead, As The Charts Point Lower

By Andrew M Spencer  —  Mar 25 - 11:10 PM
  • +0.05% in a tight 1.2634-1.2646 range with only modest interest on D3

  • There is no significant UK data today, so risk appetite and the USD lead GBP

  • BoE Monetary Policy Committee member Catherine Mann due to speak in Belfast

  • Charts; 5, 10 & 21-day moving averages fall with daily momentum studies

  • 21-day Bollinger bands expand - daily charts show a strong bearish setup

  • Negative signals target a break of 1.2569, 38.2% of the Oct/March rise

  • A close below 1.2569 would open the door to the 1.2517 2024 low

  • The sustained break of Friday's 1.2677 high would suggest a base in place

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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