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Jul 06 - 08:55 PM

GBP/USD - Topside Failure Reinforces Downtrend, As USD Firms

By Andrew M Spencer  —  Jul 06 - 07:25 PM

  • +0.1%, bargain hunting into yesterday's 0.35% fall as the USD bounced

  • UK COVID measures stop income hit for most, but not all -IFS nL5N2OI3WY

  • Mass-testing reduced Liverpool COVID-19 cases by a fifth- study nL5N2OI45L

  • Charts; bearish outside day leaves, falling 5, 10 & 21 daily moving averages

  • 21 day Bollinger bands slide and momentum studies conflict - bearish setup

  • 1.3930 is pivotal resistance, 38.2% of the June/July fall and the 21 DMA

  • Targets a test of the 1.3733 July base then 1.3669 March/April double bottom

  • NY 1.3773-1.3874 range is initial support and resistance

For more click on FXBUZ


gbp jul 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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