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Sep 10 - 09:55 PM

GBP/USD - Poised Above Key Support, But Over Extended Short Term

By Andrew M Spencer  —  Sep 10 - 07:55 PM
  • Touch firmer after closing off 1.5%, EUR/GBP up 1.6% on no deal Brexit fears

  • EU orders UK to scrap plan for treaty breach, UK refuses nL8N2G713X

  • Hard to see a compromise, when trust hits all time low's - U-turns unlikely

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

  • 1.2836 lower 21 day Bolli band suggests oversold short term, but bias lower

  • Major 1.2721-1.2137 support in view, 61.8% Jun-Sep rise and 200 DMA

  • NY 1.2773 low and early London 1.3035 high initial support-resistance

    For more click on FXBUZ

gbp sep 11 Click here

Source:
Refinitiv IFR Research/Market Commentary

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