June 2, 2021

Market Update 6/1 – British Pound Reversal!

Pound futures made a daily volume reversal today. The signals shown are at least one year high/lows with at least 1.5 x the 20 day average volume. Those are some timely signals. Price is testing the center line of the channel from the April low (see spot chart below). In the event of a bounce, resistance is 1.4210. Near term downside focus is the lower parallel, currently near 1.4005.