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Jun 25 - 09:55 PM

GBP/USD - Trend Channel Sustains Downside Bias, 1.2485/00 Caps

By Andrew M Spencer  —  Jun 25 - 07:45 PM
  • Flat, after closing +0.05%, supported by EUR/GBP sales -0.3%

  • UK won't agree to EU right to use retaliatory tariffs - nL8N2E24TR

  • Kills an idea that has been around for a couple of weeks - 'no deal' looms

  • UK VAT cut brings mixed benefits nL8N2E24XZ car output slumps nL8N2E24Z3

  • Charts; momentum studies, 5, 10 & 21 DMAs conflict, suggests consolidation

  • June fall in a well defined trend channel, 1.2487 channel top key resistance

  • Wednesday's 21 DMA failure, now at 1.2539, targets this week's 1.2337 low

  • NY 1.2390 low and London 1.2464 high initial support-resistance



gbp jun 26 Click here

Source:
Refinitiv IFR Research/Market Commentary

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