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Apr 21 - 01:55 AM

GBP/USD - Uptrend Survives Into Another Round Of UK Data

By Andrew M Spencer  —  Apr 20 - 11:40 PM
  • -0.05% in a tight 1.2432-1.2443 range in Asia - very quiet on D3

  • UK consumer confidence highest since Feb 2022 as 'green shoots' emerge: GfK

  • Retail sales, then manufacturing, and services PMIs lead data risk in London

  • Data will provide insight into the UK economy after Wednesday's high CPI

  • Charts; neutral momentum studies, 5, 10 & 21 day moving averages edge higher

  • 21-day Bollinger bands contract - uptrend consolidates - net positive setup

  • Close below the resilient 1.2403 rising 21 DMA would be a bearish signal

  • Sustained 21 DMA break targets 1.2262, 38.2% of the March/April rise

    For more click on FXBUZ

Asia
Source:
Refinitiv IFR Research/Market Commentary

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