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Jul 29 - 09:55 PM

GBP/USD - 1.4000 Resistance Likely Caps, But Higher Next Week

By Andrew M Spencer  —  Jul 29 - 07:36 PM

  • +0.1% after closing up 0.4%, supported by broad based USD weakness

  • UK government to invest 338 mln pounds to boost cycling, walking in England

  • Gov't hopes increased exercise during COVID-19 will continue nL1N2P526O

  • Charts; 5, 10 & 21 daily moving averages climb - momentum studies rise

  • Bullish setup saw a fresh high for this bounce, with further gains viable

  • 1.3989 upper 21 day Bolli and 1.3991 61.8% June July fall cap at present

  • Break would open the door to 1.4090 76.4% retracement of June July fall

  • 1.3941 NY base then 1.3900 426M strikes are first supports

For more click on FXBUZ


gbp jul 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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