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Sep 08 - 09:55 PM

GBP/USD - Support Holds, 1.2740 200 DMA Test Viable Longer Term

By Andrew M Spencer  —  Sep 08 - 07:50 PM
  • -0.1%, extending Tuesday's 1.5% fall - no deal Brexit a real possibility

  • AstraZeneca puts COVID-19 vaccine trial on hold, safety concern 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 initially held

  • 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 daily moving average

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

  • There is plenty of technical support, so a free fall unlikely

    For more click on FXBUZ

gbp sep 9 Click here

Source:
Refinitiv IFR Research/Market Commentary

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