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May 16 - 09:55 PM

GBP/USD - Positive Data Adds To Optimism, As 2021 High Beckons

By Andrew M Spencer  —  May 16 - 07:45 PM

  • Steady after closing up 0.35% on Friday, USD led as inflation fears cooled

  • UK house prices boom outside London - as expected - Rightmove nL8N2N1480

  • Nearly half of small UK manufacturers see recovery soon nL8N2N145M

  • Fast vaccine rollout has fuelled optimism across most sectors in the UK

  • Charts; Friday's bounce leaves 10 & 21 DMAs, 21 day Bolli's climbing

  • Positive setup targets a test of the 1.4240 2021 high longer term

  • 1.4111 NY high then last week's 1.4167 peak are first resistance

  • 1.4085 late NY base then 1.4023 rising 10 DMA are initial supports

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gbp may 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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