GBP/USD: V-Shaped Turn at Key Horizontal Line
The Sterling is knocked down by negative Brexit headlines that led to algo selling.
The rebound off 1.31 round number erases most of the daily losses.
No clear directional biases developing amid two of the strongest currencies as of late.
The bond yield spread still constructive but DXY adds downward pressure.
The pair no longer characterized as in a bullish trend from a macro perspective (5-DMA).
The rebound off 1.31 round number erases most of the daily losses.
No clear directional biases developing amid two of the strongest currencies as of late.
The bond yield spread still constructive but DXY adds downward pressure.
The pair no longer characterized as in a bullish trend from a macro perspective (5-DMA).
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