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May 23 - 09:55 PM

GBP/USD - Resistance Around 1.2600 Holds, As The USD Leads

By Andrew M Spencer  —  May 23 - 07:50 PM

  • -0.05% after closing up 0.7% with risk appetite and the broadly lower USD

  • Fresh photos of 'Partygate' show PM front and centre nL2N2XF1HN

  • PM apologised for his 'mistake' - voters unlikely to forget or forgive

  • Charts; momentum studies climb, 5, 10 & 21 day moving averages conflict

  • 21 day Bollinger bands contract - mixed signals suggest consolidation

  • 1.2592, 38.2% March-May fall tested, 1.2639 May high resilient resistance

  • Monday's 1.2481 low and 1.2434 21 day moving average initial support

For more click on FXBUZ


gbp May 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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