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Thomson Reuters
Oct 31 - 09:48 PM
GBP/USD - Month End Bounce, But The Downtrend Remains Strong
First appeared on eFXplus on Oct 31 - 07:35 PM
  • +0.1% early after closing +0.4% on a whisper of Brexit optimism nL8N1XB7JE
  • Likely month end profit taking after falling from 1.3250 in mid October
  • Momentum studies conflict, 5, 10 & 21 DMAs head lower - bearish setup
  • Targets a break of Tuesday's 1.2697 trend low, then 1.2662 Aug & 2018 base
  • Close above falling 1.2858 10 DMA needed to end the downside bias
  • NY 1.2742/1.2831 range is initial support/resistance

gbp nov 1 Click here

Source:
Thomson Reuters IFR Markets

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