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Jun 29 - 01:55 AM

GBP/USD - Soft, Reflecting The Negative Technical Outlook

By Andrew M Spencer  —  Jun 28 - 11:49 PM

  • -0.1% in a 1.3859-1.3878 range - decent flow once Asia fully opened

  • Negative sterling signals ahead of 'freedom day' nL2N2OB00E

  • Charts; daily momentum studies, 5, 10 & 21 daily moving averages fall

  • 21 day Bollinger bands slide - bearish setup suggests further losses

  • 10 DMA capped repeatedly, now comes in at 1.3908 - pivotal resistance

  • Downtrend targets a test of 1.3756, 61.8% of the 2021 rise

  • 1.3786 June low and 1.3908, 10 DMA initial support and resistance

    For more click on FXBUZ


gbp 2 jun 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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