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Apr 07 - 09:55 PM

GBP/USD - Sterling On Hold - Good News For The BoE

By Andrew M Spencer  —  Apr 07 - 08:10 PM
  • -0.1% at the base of a 1.2622-34 range after an early 1.2601 miss-hit

  • Large UK companies see the lowest uncertainty in nearly three years

  • UK recruiters report slowest growth in starting pay in over three years

  • The data should be well received by the BoE into the May 9th rate decision

  • Techs; 5, 10 & 21-day moving averages coil as 21-day Bolli bands contract

  • Momentum studies flat line - there is no strong bias on the daily charts

  • 1.2501 Dec base, 1.2517 2024 low, and 1.2536 Feb 14 base are strong support

  • 1.2574 NY low supports- 1.2675/77 38.2% Mar/Apr fall & 21 DMA are resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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