By Andrew M Spencer — May 25 - 07:55 PM
Unchanged after closing down 0.35%, as rising UST yields saw the USD +0.35%
Hopes UK retail sales will recover with consumer confidence in the summer
Expecting a low-key end to the Asian week, USD and risk lead sterling
Charts; soft close validated Wednesday's bearish outside day
Daily momentum studies, 5, 10 & 21-day moving averages head lower
21-day Bollinger bands expand - setup suggests the base is the weak side
1.2308 NY low then 1.2242, 50% 2023 rise are initial supports
1.2387 London high then 1.2421 10DMA are first resistance
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary