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Apr 05 - 09:55 PM

GBP/USD - Good News And A Bullish Outside Day Supports

By Andrew M Spencer  —  Apr 05 - 07:53 PM

  • +0.05% after closing up 0.6% on broad based safe haven USD weakness

  • Sunak's tax break plan pushes UK manufacturers to invest nL8N2LY2PY

  • Britain launches a new loan scheme to help companies recover nL8N2LY146

  • Fresh investment is good news for the gov't and the UK economic recovery

  • Charts; bullish outside day leaves 5, 10 & 21 DMAs basing or rising

  • Neutral to bearish signals have turned bullish with a base at 1.3670

  • Close above 1.3854 21 DMA, now initial support, suggests further gains

  • Targets an initial test of 1.3955, 50% of the 2021 fall, then 1.4022 61.8%

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gbp apr 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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