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May 23 - 11:55 PM

GBP/USD - Charts Remain Positive, But Progress Needed Soon

By Andrew M Spencer  —  May 23 - 11:30 PM

  • -0.1% in a 1.4137 - 1.3157 range - busy early, then quiet

  • USD led cable last week, resulting in choppy consolidation - could extend

  • Labour pushes for vote on U.S. minimum corporation tax plan nL5N2NA05W

  • No UK data - BoE Governor Bailey to answer MPS questions from parliament

  • Charts; 5, 10 & 21 daily moving averages, 21 day Bollinger's head higher

  • Positive setup targets a break of 1.4240 2021 high, which capped last week

  • Close below 1.4128 well tested rising 10 DMA would undermine topside bias

  • 1.4128 21 DMA and earlier 1.4157 Asia high initial support and resistance

For more click on FXBUZ


gbp 2 may 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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