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Aug 23 - 09:55 PM

GBP/USD - Strong Bounce, But Signals Remain Negative, USD Key

By Andrew M Spencer  —  Aug 23 - 07:43 PM

  • Steady after closing up 0.75% - USD led but exaggerated by summer liquidity

  • UK says has evacuated over 7,000 people from Afghanistan nL4N2PU3MW

  • Turbulent times, as climate change, the Delta variant & refugees mount

  • Charts; momentum studies, 5, 10 & 21 daily and weekly moving averages slide

  • 21 day Bollinger bands expand - bearish setup, despite Monday's bounce

  • Fall targets a test of 1.3572 July trend base, with 1.3451 2021 base below

  • Sustained break of 1.3837, 61.8% Jul/Aug fall and 21 DMA ends downside bias

  • NY 1.3680 low and 1.3747, 38.2% Jul/Aug fall initial support and resistance

For more click on FXBUZ


gbp aug 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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