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Mar 21 - 08:55 PM

GBP/USD - Risk And U.S. Dollar Lead, But The Range Prevails

By Andrew M Spencer  —  Mar 21 - 07:20 PM

  • Steady - closed -0.1% amid broad safe haven USD strength, as risk soured

  • U.S., UK officials kick off talks to strengthen trade ties nL2N2VO1NO

  • No plans to resume US/UK talks on a free trade agreement anytime soon

  • Charts; momentum studies rise - 5, 10 & 21 daily moving averages conflict

  • 21 day Bollinger bands contract - mixed signals favour range trading

  • Last week's sustained 1.3109 10 DMA break suggests a period of consolidation

  • 1.3001 March 2022 low and 1.3246, 38.2% Feb-Mar fall viable range parameters

  • London 1.3127 low and NY 1.3210 high are initial support and resistance

For more click on FXBUZ


gbp Mar 22 Click here

Source:
Refinitiv IFR Research/Market Commentary

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