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Jul 02 - 01:55 AM

GBP/USD - Uptrend Remains In Play, As Pay Awards Rise

By Andrew Spencer  —  Jul 01 - 11:58 PM

• +0.05% with the U.S. dollar unchanged in a quiet Asia on FX Matching

• PM Starmer wins vote on UK welfare reform but suffers a damaging rebellion

• Despite holding a large majority, Starmer must keep the left wing onside

• UK pay awards rise to 3.4% in three months to May, IDR survey shows

• No tier 1 UK data - MPC Member Taylor will speak at the ECB forum in Sintra

• Charts - 5, 10, & 21-day moving averages climb, positive momentum studies

• 21-day Bollinger bands expand - daily signals retain a topside trending bias

• Key support levels: This week's 1.3674 low, then 1.3639/1.3582 10 & 21 DMAs

• Resistance levels: Yesterday's 1.3787 2025 top, then the 1.4250 2021 peak
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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