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Apr 13 - 09:55 PM

GBP/USD - Range Remains Strong With No Trend In Sight

By Andrew M Spencer  —  Apr 13 - 08:16 PM
  • Flat after closing +0.05%, with the USD broadly softer as range rules

  • UK trial on mixing COVID-19 vaccines adds Moderna and Novavax nL8N2M6545

  • UK reactive on COVID-19 in 2020, but proactive in 2021 on vaccine rollout

  • Charts; mixed momentum studies, 5, 10 & 21 daily moving averages edge lower

  • 21 day Bollinger bands slide - modest negative setup above key support

  • 1.3670 March/April low, 1.3647 lower 21 day Bolli, 1.3637, 76.4% 2021 rise

  • Significant news or a strong USD bounce needed to break 1.3635

  • 1.3785 10 DMA has recently capped and is initial resistance

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Source:
Refinitiv IFR Research/Market Commentary

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