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Sep 16 - 09:55 PM

GBP/USD - Shorts Cover, With Key Resistance Under Pressure

By Andrew M Spencer  —  Sep 16 - 07:50 PM
  • Touch softer after closing +0.6% with EUR/GBP off 0.9%, as positions unwind

  • Bank of England likely dovish, gears up for next stimulus push nL8N2GD4Q9

  • Chances of Brexit deal fading every day, EU Commission chief nL8N2GD1AE

  • Techs; 10 and 21 DMAs fall, 21 day Bollinger bands expand - net bearish

  • Bias to the downside while closes below under pressure falling 1.2969 10 DMA

  • 1.2721-1.2138 major support, 61.8% Jun-Sep rise, 200 DMA, lower 21 day Bolli

  • NY 1.2938-1.3008 range is initial support-resistance

gbp sep 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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