* Date $MM Issuer (Priced *, Launch #) * 11/05 $3B #Indonesia $500M 3Y 5.45%, $1M 5Y 5.85%, $2.5B 10...
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The trend structure in GBPUSD remains bearish, despite the bounce in prices on Tuesday. The fresh cycle low last Thursday confirmed a flag formation - a bearish continuation signal that reinforces current trend conditions - on the daily chart. Note that moving average studies are in a bear-mode position, highlighting a dominant downtrend. Scope is seen for an extension towards 1.3140, the Jun 24 low and the next key support. Resistance at the 20-day EMA is at 1.3327.