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Jul 20 - 08:55 PM

GBP/USD - Next Stop 2021 Low As Vaccine-Delta Gamble Plays Out

By Andrew M Spencer  —  Jul 20 - 07:22 PM

  • Steady after closing -0.35% for a fourth day of losses, as downtrend extends

  • Freeing up COVID restrictions while cases surge a huge gamble nL9N2M802B

  • Charts; momentum studies, 5, 10 & 21 daily moving averages track lower

  • 21 day Bollinger bands slip - signals add up to a strong bearish setup

  • Break of 1.3697 200 DMA, a base since Sep 2020, adds to the negative signals

  • Sustained break of 1.3816 21 daily moving average needed to downside bias

  • Next significant support comes in at 1.3451/63, 2021 low & 50% Sep/Jun rise

  • NY 1.3572 low and London 1.3676 high initial support and resistance

For more click on FXBUZ


gbp jul 21 Click here

Source:
Refinitiv IFR Research/Market Commentary

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