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May 11 - 08:55 PM

GBP/USD - Charts And Data Point To A 1.2082 Test

By Andrew M Spencer  —  May 11 - 07:45 PM

  • +0.05% - closed -0.6%, potential EU-UK trade barriers weigh nL5N2X32GN

  • UK consumer gloom over finances sinks to new all time low nL5N2X34DD

  • More bad news for the government, as money talks ahead of elections

  • Charts; momentum studies, 5, 10 & 21 day and week moving averages slide

  • 21 day Bollinger bands fall, as the strong bearish setup remains in play

  • 10 DMA tested last week, now at 1.2403, remains the first major resistance

  • Targets a test of long term support at 1.2082, 76.4% 2020-2021 rise

    For more click on FXBUZ


gbp May 12 Click here

Source:
Refinitiv IFR Research/Market Commentary

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