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Aug 29 - 09:48 PM
GBP/USD - Confidence Slumps Into Upcoming Political Turmoil
First appeared on eFXplus on Aug 29 - 07:30 PM
  • Flat after closing off 0.25% amid broad USD strength - likely quiet in Asia
  • Business, consumer confidence slumps, as Brexit turmoil builds nL9N22K02K
  • Labour opposition to push for legislation against hard Brexit nL5N25P1BX
  • Next week will produce fireworks in parliament - with the outcome unknown
  • Dip leaves conflicting momentum studies, neutral 5, 10 & 21 DMAs - no bias
  • 1.2309, 38.2% June/August fall proved resilient resistance - now pivotal
  • 1.2154 21 DMA and 1.2232 NY high are initial support and resistance

gbp aug 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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