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Aug 12 - 09:55 PM

GBP/USD - Negative Signals Target Key Support Below 1.3780

By Andrew M Spencer  —  Aug 12 - 07:46 PM

  • Flat - closed -0.4% as BoE tapering fears cooled on mixed data nL8N2PJ1R7

  • UK to investigate COVID-19 testing firms on price, accuracy nL1N2PJ2LF

  • Charts; momentum studies flat line, 5 & 10 daily moving averages edge lower

  • Bearish cross of 5 and 10 DMA - six days of lower daily lows weighs

  • Negative setup targets 1.3776-78, 200 DMA and 50% of the July bounce

  • Break of 1.3897 August daily trend line resistance would be bullish

  • NY 1.3794 low and early London 1.3877 high are initial support resistance

    For more click on FXBUZ


gbp aug 13 Click here

Source:
Refinitiv IFR Research/Market Commentary

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