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Jul 05 - 02:36 AM
GBP/USD - 1.2500 Is Pivotal Support, As Data Again Weighs
First appeared on eFXplus on Jul 04 - 11:50 PM
  • +0.1%, after an early flurry, then very quiet ahead of US payrolls
  • EUR/GBP is flat with no real flow in Asia, after opening unchanged
  • Very soft retail data nL8N2453NH, UK firms become gloomy nL8N24523I
  • The current dip leaves momentum studies, 5, 10 & 21 DMAs edging lower
  • Negative setup ahead of 1.2507 June low, close below 1.2500 would be bearish
  • 1.2500 break would target the 1.2409 2019 base, then 1.2365 April 2017 low
  • Yesterday's 1.2569/1.2592 range is initial support/resistance

gp2 jul 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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