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Thomson Reuters
Jun 04 - 09:48 PM
GBP/USD - Technical Bounce, But The Outlook Remains Heavy
First appeared on eFXplus on Jun 04 - 07:40 PM
  • Flat, opened +0.3%, as shorts cover after finding a 1.2560 base last week
  • Trump promises Britain a "phenomenal" post-Brexit trade deal nL8N23B0XN
  • Scepticism rules after the uncertainty during NAFTA and China trade talks
  • Sustained break above 1.2663 10 DMA suggests a period of consolidation
  • Close above 1.2801, 38.2% of the May fall needed to end primary downtrend
  • Momentum studies climb, 5, 10 & 21 DMAs conflict - neutral setup
  • NY 1.2664/1.2715 range is initial support/resistance

gbp jun 5 Click here

Source:
Thomson Reuters IFR Markets

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