By Andrew M Spencer — Jun 02 - 12:05 AM
-0.05% at the base of a tight 1.2474-1.2487 range - little interest on D3
No significant UK data as Platinum Jubilee celebrations begin nL8N2XO3JL
Techs; momentum studies, 5, 10 & 21 day moving averages conflict
21 day Bollinger bands edge lower - charts turned neutral from positive
Falling 1.2444 21 day moving average a base on Wednesday - pivotal support
Close below 1.2444 would be bearish suggesting the return of the downtrend
1.2565/69 10 and 5 DMAs, then London 1.2611 high are initial resistance
1.2444 21 day moving average and 1.2411, 50% of the May bounce first support
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gbp 2 jun 2 Click here
Source:
Refinitiv IFR Research/Market Commentary