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Apr 20 - 09:55 PM

GBP/USD - Bid Below Key Resistance, As External Factors Lead

By Andrew M Spencer  —  Apr 20 - 07:45 PM

  • Touch firmer after closing up 0.5% amid broad based long USD profit taking

  • Despite controversies PM Johnson set on fighting next election nL2N2WI2GZ

  • Will be interesting to see how the polls react to Johnson's performance

  • Charts, positive momentum studies, 5, 10 & 21 day moving averages edge lower

  • 21 day Bollinger bands contract - modest negative bias survives

  • Close above 1.3083 21 day moving average would be a bullish signal

  • Wednesday's Asian 1.2995 low and last week's 1.2973 2022 low first supports

  • 1.3167-1.3174 is major resistance, April high and 61.8% March-April fall

For more click on FXBUZ


gbp Apr 21 Click here

Source:
Refinitiv IFR Research/Market Commentary

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