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Feb 04 - 08:55 PM

GBP/USD - Eight Week 1.2600 Range Base In View With The USD Bid

By Andrew M Spencer  —  Feb 04 - 06:35 PM
  • -0.15% after closing down 0.85%, as the USD and UST yield jumped on US jobs

  • BoE Chief Economist Pill: right time for a rate cut is 'still some way off'

  • N. Ireland appoints Irish nationalist as First Minister in a historic shift

  • Power-sharing government must now focus on rebuilding the N.Ireland economy

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

  • 21-day Bollinger bands expand - bearish setup is usual at the range base

  • 1.2772 London high first resistance - 1.2614 New York base initial support

  • 1.2600-1.2825 range is in its 8th week - close below 1.2600 would be bearish

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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