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May 18 - 09:55 PM

GBP/USD - Charts, Sentiment Suggest 2021 High Will Be Tested

By Andrew M Spencer  —  May 18 - 07:38 PM

  • Steady after closing up 0.35%, trend high amid broad based USD weakness

  • UK's Boris Johnson backs tariff-free trade with Australia - The Times

  • If true the UK farmers and primary producers will be very upset

  • UK's Johnson announces urban renewal plans after promise to "level up"

  • Push to decentralize government and investment from London is strong

  • Charts; new trend high leaves rising 5, 10 & 21 DMAs, 21 day Bolli's expand

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

  • Topside bias while 1.4085 rising 10 daily moving average holds


    For more click on FXBUZ


gbp may 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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