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Jun 17 - 01:55 AM

GBP/USD - Bid At Oversold Levels, But The Trend Is Lower

By Andrew M Spencer  —  Jun 16 - 11:37 PM

  • +0.1% towards the top of a 1.3974-1.4005 range - plenty of early interest

  • N.Ireland parties agree on new First Minister, avoiding crisis nL2N2NZ025

  • Delta variant fuelled 50% rise in English COVID spread nL5N2NY427

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

  • 21 day Bollinger bands expand - signals suggest a strong trending setup

  • 1.4019 lower 21 day Bolli band indicates cable is oversold short term

  • Oversold signals suggest sell sterling strength not breaks nL2N2NZ01A

  • 1.3959, 50% April-June rise and 1.4105 10 DMA are first support resistance

    For more click on FXBUZ


gbp 3 jun 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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