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Apr 08 - 01:55 AM

GBP/USD - Bid On Bargain Hunting Into The Recent Selloff

By Andrew M Spencer  —  Apr 07 - 11:57 PM

  • +0.15% USD led, at the top of a 1.3734-1.3760 range with steady interest

  • UK firms increase hiring as the end of lockdown approaches nL8N2M033M

  • COVID-19 fell in England in March, but decline flattening off nL8N2M05PK

  • Jury still out on when the vaccine rollout will gain upper hand on COVID-19

  • Charts; daily momentum studies crest, 5, 10 & 21 DMAs coil - mixed signals

  • 21 day Bollinger bands track lower - net a very modest bearish setup

  • Sustained break of March 1.3671 low would target 1.3637, 76.4% 2021 rise

  • Asian 1.3734 low and 1.3837 London high are initial support resistance

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gbp 2 apr 8 Click here

Source:
Refinitiv IFR Research/Market Commentary

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