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Sep 08 - 09:55 PM

GBP/USD - Trends Lower, After Turbulent Event Risk

By Andrew M Spencer  —  Sep 08 - 07:35 PM

  • Steady after touching 1.1562, but closed -0.35%, at 1.1497 on the firmer USD

  • Truss borrows big fighting higher energy, cost of living crisis nL1N30E2VJ

  • New UK energy plan puts investors, banks in tough net-zero spot nL8N30F28L

  • Techs: daily momentum studies conflict, 21 day Bollinger bands track lower

  • 5, 10 & 21 daily, weekly and monthly moving averages all head south

  • Bearish trending setup while 1.1561 10 day moving average caps on the close

  • Targets another test of this week's 1.1407 low on Wednesday

  • NY 1.1464 low and 1.1561/2, 10 DMA and London high support and resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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