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Aug 31 - 09:55 PM

GBP/USD - Heavy Early With Risk As E-Mini's And UST Yields Fall

By Andrew M Spencer  —  Aug 31 - 07:35 PM

  • -0.2% early after closing down 0.25%, as EUR/GBP +0.65% continued to climb

  • BOEWATCH prices a 50pt Sep 15 hike at 64% - ECB potential 75pts nL1N3070N5

  • E-mini S&P off 0.5% early - 2yr UST opens -4bp 3.452% - risk off

  • Charts: daily momentum studies head lower with 21 day Bollinger bands

  • 5, 10 & 21 day, week and month moving averages fall - bearish trending setup

  • Close above 1.1737 10 day moving average needed to undermine downside bias

  • NY 1.1598 NY low under pressure - 1.1653 NY high initial resistance

  • Longer-term target is a test of the 1.1413 March 2020 base

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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