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Mar 07 - 11:55 PM

GBP/USD - Key Resistance Held - Today's Close Key For Sterling

By Andrew M Spencer  —  Mar 07 - 10:05 PM
  • Steady at the base of a tight 1.2807-1.2820 range with moderate D3 interest

  • Tight range trading is not unusual ahead of the often volatile US employment

  • There is no UK data or scheduled BOE speeches so risk, USD to lead sterling

  • Charts; 5, 10 & 21-DMA's climb, 21-day Bollinger bands expand

  • Daily momentum studies rise - the daily charts are positive at recent highs

  • Thursday's 1.2724 low and then Wednesday's 1.2694 base are initial supports

  • A close above the 1.2825 December range top would be bullish for next week

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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