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May 31 - 11:55 PM

GBP/USD - Fresh 2021 High - Busy - Flow Not News Driven

By Andrew M Spencer  —  May 31 - 10:06 PM

  • +0.2%, taking out stops above the prior 1.4240 2021 high, touching 1.4250

  • Heavy volumes noted at times, with the USD a touch softer, but no news

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

  • 21 day Bollinger bands climb - fresh high targets 1.4302 50% 2014/20 fall

  • Sustained break of rising 1.4104 21 DMA needed to end the topside bias

  • Asia 1.4209 low and 1.4302 50% Fibo are first support and resistance

    For more click on FXBUZ


gbp 2 jun 1 Click here

Source:
Refinitiv IFR Research/Market Commentary

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