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