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Feb 28 - 11:55 PM

GBP/USD - Upbeat Data - Firmer Into Key US Core PCE Inflation

By Andrew M Spencer  —  Feb 28 - 10:10 PM
  • +0.1% at the top of a 1.2657-1.2669 range as JPY leads the USD lower

  • UK car output rises 21% in January year on year, industry body says

  • The bulk of the production was for export - good news in the post-Brexit era

  • Charts; 5, 10 & 21-DMA's conflict as the 21-day Bollinger bands contract

  • Daily momentum studies are neutral - GBP resilient - charts show no bias

  • 1.2631 21-day moving average, then Wednesday's 1.2621 low are first supports

  • New York's 1.2673 high then last week's 1.2710 high are the first resistance

  • Choppy consolidation looks set to extend unless U.S. Core CPI shocks tonight

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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