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Aug 29 - 06:12 AM
GBP/USD - Should GBP/USD Bust 21-DMA Expect Fireworks
First appeared on eFXplus on Aug 29 - 03:20 AM
  • GBP/USD continues to hold above 21-DMA after break higher on Aug 22
  • The paring of shorts that has inspired suits further stability, bigger rally
  • Political uncertainty favours a deeper decline
  • If 21-DMA gives way, the mood to cover shorts will likely evaporate
  • May see rapid acceleration towards 2019 low @ 1.2015 and 1.2000 options
  • Month-end EUR/GBP buying will exert downside pressure on GBP/USD today

GBP/USD daily Click here

Source:
Refinitiv IFR Research/Market Commentary

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