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Jun 30 - 01:55 AM

GBP/USD - Fleeting Early Bounce, Down Trend In Play Into GDP

By Andrew M Spencer  —  Jun 29 - 11:50 PM
  • +0.05% in a 1.2297-1.2316 range with moderate month end sterling interest

  • UK businesses slightly less negative, first time since January nL8N2E64MN

  • Techs; momentum studies, 5, 10 & 21 DMAs trend lower - bearish setup

  • June fall in a well defined trend channel, 1.2433 channel top key resistance

  • 1.2249, 76.4% of the May-June rise a base yesterday, now first support

  • Earlier 1.2316 top, and 1.2356 5 DMA are initial resistance

  • GDP and business investment lead UK data - see chart for polls

    For more click on FXBUZ





















ukd jun 30 Click here

gbp 2 jun 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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