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Jul 23 - 01:55 AM

GBP/USD - Risk Cools, Stalling Uptrend - Charts Point Higher

By Andrew M Spencer  —  Jul 22 - 11:35 PM
  • -0.05%, as rising US-China tensions stoke modest risk haven USD demand

  • Asian stocks are lower, led by SSEC -1.5%, AsiaxJP -0.2%, E-mini S&P flat

  • 1.2724-1.2750 range, with modest volumes on the Tokyo holiday

  • Techs - uptrend stalled, but momentum studies, 5, 10 & 21 DMAs head north

  • Sustained 1.2703 200 DMA break a strong positive - targets 1.2812 June high

  • Close below 1.2544 21 DMA, a recent base, needed to undermine topside bias

  • 1.2693 NY low and this week's 1.2768 top are initial support-resistance

For more click on FXBUZ


gbp 2 jul 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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