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Sep 01 - 01:55 AM

GBP/USD - Dip Leaves A Negative Setup Below Pivotal 200 DMA

By Andrew M Spencer  —  Aug 31 - 11:40 PM

  • 0.15% lower with broad USD strength as UST yields, stocks and oil rise

  • Sterling trades at lower end of a 1.3732-1.3756 range with moderate interest

  • Global company CEOs back to pre-pandemic levels of confidence - nL8N2PY218

  • Charts; 21 day Bollinger bands, 5, 10 & 21 daily moving averages edge lower

  • Neutral daily momentum studies - modest downside bias as 1.3809 200 DMA caps

  • Sustained 1.3809 break would initially target 1.3837, 61.8% July-August fall

  • Friday's 1.3679 low then 1.3602 August base first significant supports

  • 1.3718 10 DMA and Asia open 1.3756 high are initial support and resistance

For more click on FXBUZ


gbp 2 Sep 1 Click here

Source:
Refinitiv IFR Research/Market Commentary

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