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Apr 20 - 01:55 AM

GBP/USD - Touch Softer Into A Raft Of Central Bank Speakers

By Andrew M Spencer  —  Apr 19 - 11:45 PM
  • -0.1% near the base of a 1.2421-1.2439 range - only occasional D3 interest

  • No significant UK data today, so the USD and risk appetite to drive sterling

  • Plenty of Fed speakers today, Yellan, BOC's Macklem, and BoE's Tenreyro

  • Charts; momentum studies flat line, 5, 10 & 21 day moving averages coil

  • 21-day Bollinger bands contract - uptrend consolidates - neutral setup

  • Close below the resilient 1.2395 rising 21 DMA would be a bearish signal

  • Sustained 21 DMA break targets 1.2262, 38.2% of the March/April rise

  • 1.2396 21 DMA and Asia's 1.2439 high are initial support and resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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