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Oct 06 - 08:55 PM

GBP/USD - Bounce Falters Below Key Resistance As Downtrend Holds

By Andrew M Spencer  —  Oct 06 - 07:05 PM

  • +0.05%, bargain hunting early into Wednesday's 0.3% fall as the USD firmed

  • Johnson doubled down on his vision for a high wage economy nL1N2R20GQ

  • PM's speech suggests UK supply chain problems could continue through winter

  • Charts; momentum studies, 5, 10 & 21 daily moving averages conflict

  • 21 day Bollinger bands slide - bias remains lower while 1.3670 21 DMA caps

  • Sustained 1.3670 break would target a test of the falling 1.3913 upper Bolli

  • 1.3551 NY low then 1.3544 London base are initial supports

For more click on FXBUZ


gbp Oct 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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