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Apr 21 - 03:55 PM

GBP/USD - Trims Session Gain Though Keeps Bullish Bias

By Robert Fullem  —  Apr 21 - 02:12 PM

(Adjust decimal in supports)

• GBP/USD pares gain after nearing its 2024 high of 1.3434

• Session range is 1.3266-1.3421; volumes thinned by Easter Monday

• Ten-day advance sends pair into overbought zone on 14-day RSI

• Settles below upper Bollinger though momentum, MAs supports bull trend

• May see brief DXY rebound after gap down on Monday

• Week ahead includes PMIs, BOE speakers featuring Gov. Bailey

• Supp: 1.3281 5-DMA ; 1.3262 Apr 18 low; 1.3207 Apr 3 high

• Resist: 1.3434 2024 high; 1.3640 Feb 14 2022 high
GBP


(Robert Fullem is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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