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Jun 06 - 09:55 PM

GBP/USD - Topside Bias Continues, But Upcoming Data Is Pivotal

By Andrew M Spencer  —  Jun 06 - 08:45 PM
  • Flat after closing unchanged with the USD off 0.15% and EUR/GBP closing flat

  • BOEWATCH prices a September cut at 16.98pts from 24.3pts last week's close

  • As inflation remains resilient in many countries, everyone is data-driven

  • Expect tight ranges in Asia ahead of the often volatile US payrolls

  • Charts; daily momentum studies flat-line - 21-day Bollinger bands contract

  • 5, 10 & 21-day moving averages rise - daily signals remain positive

  • A close below the rising 1.2712 21-DMA would end the topside bias

  • This week's 1.2818 high and the 1.2860 upper 21-day Bolli first resistances

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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