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Feb 20 - 11:55 PM

GBP/USD - Firmer - New Surveys Support BOE's Rate Cut Comments

By Andrew M Spencer  —  Feb 20 - 10:20 PM
  • +0.1% near the top of a 1.2621-1.2633 range with moderate D3 flow

  • UK businesses are more optimistic this year, BCG survey shows

  • UK employers offer smaller pay rises at the start of 2024, XpertHR

  • Surveys support BoE's Bailey 'comfortable' that markets expect rate cuts

  • Charts; 5, 10 & 21-DMA's coil as the 21-day Bollinger bands contract

  • Neutral daily momentum studies - setup shows no significant bias

  • Close above 1.2640 21-DMA would suggest another test of the 1.2800 range top

  • This week's 1.2579 low, then last week's 1.2536 base, are initial supports

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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