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Refinitiv
Mar 23 - 08:36 PM

GBP/USD - Resilient Below 1.1500, But The Bias Remains Lower

By Andrew M Spencer  —  Mar 23 - 06:50 PM
  • Flat after closing off 1%, as the coronavirus lockdown spooked nL8N2BG8C2

  • UK's Dyson testing ventilator and scaling up for production nL8N2BG92D

  • Charts; 5, 10 & 21 daily weekly and monthly MAs trend south - negative setup

  • Stalled below 1.1500, which was the 2016 post Brexit vote base last week

  • Consolidation allows over sold signals to unwind, lower 21 day Bolli 1.1345

  • Sustained break of 1.1987 falling 10 DMA needed to undermine bearish bias

  • Earlier 1.1505 low and NY 1.1675 high initial support-resistance

gbp mar 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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