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May 26 - 01:55 AM

GBP/USD - Bid, As USD Eases - Topside Break Remains Viable

By Andrew M Spencer  —  May 25 - 11:40 PM

  • +0.1% at the top of a 1.4140 - 1.4159 range with consistent interest

  • USD soft led by CNH under 6.400 & NZD nL3N2ND0TY, as Asian stocks firmed

  • Cable stalled below the 2021 high for over a week - break to be USD led

  • Charts; 5, 10 & 21 DMAs climb, 21 day Bollinger bands head higher

  • Positive setup suggests 1.4240 2021 high remains vulnerable

  • Close below 1.4140 resilient rising 10 DMA to suggest more consolidation

  • Sustained break of 1.4047 21 DMA would be a bearish signal

  • NY 1.4116 low and early London 1.4210 high first major support, resistance


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gbp 2 may 26 Click here

Source:
Refinitiv IFR Research/Market Commentary

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