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Refinitiv
Sep 09 - 01:55 AM

GBP/USD - Key Support Held, Negative Setup, Busy EUR/GBP

By Andrew M Spencer  —  Sep 08 - 11:50 PM
  • -0.1% in a 1.2950-1.2987 range - busy early then quiet - risk sours in Asia

  • EUR/GBP +0.2% saw solid interest into lunch, at top of a 0.9074/90 range

  • AstraZeneca puts COVID-19 vaccine trial on hold over safety nL1N2G5276

  • Techs; 5, 10 and 21 DMA crest-fall, 21 day Bolli bands expand- bearish setup

  • Initial support at 1.2944, 38.2% of the May-September rise a base in Asia

  • A test of 1.2927 falling lower 21 day Bolli is viable, but likely resilient

  • Longer term target is a return to the 1.2740 200 DMA nL4N2G6097

  • Close above 1.3176 21 DMA needed to end the downside bias

    For more click on FXBUZ

gbp 4 sep 9 Click here

Source:
Refinitiv IFR Research/Market Commentary

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