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Mar 29 - 11:55 PM

GBP/USD - Bias Remains Lower - USD To Lead Next Move

By Andrew M Spencer  —  Mar 29 - 11:01 PM
  • +0.1% at the top of a tight 1.3760-1.3774 range with only light flow

  • No fresh Sterling news in Asia and an empty UK data schedule - USD to lead

  • Charts; 10 & 21 DMAs, plus 21 day Bollinger bands head south - bearish setup

  • Targets a test of major Fibonacci support at 1.3637 - 76.4% of the 2021 rise

  • Downside progress needed soon to sustain bias - 1.3865 21 DMA key resistance

  • 1.3847 London high then 1.3864 21 DMA are initial resistance

  • 1.3755 NY low then last week's 1.3670/75 base first support

    For more click on FXBUZ

gbp 2 mar 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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