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Jun 02 - 01:55 AM

GBP/USD - Touch Softer, As The U.S. Dollar And Risk Lead

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

For more click on FXBUZ


gbp 2 jun 2 Click here

Source:
Refinitiv IFR Research/Market Commentary

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