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Jun 13 - 09:55 PM

GBP/USD - Remains Resilient As Government Support Slides

By Andrew M Spencer  —  Jun 13 - 08:25 PM
  • 0.05% after closing down 0.25%, resilient v's a 0.5% USD rise, EUR/GBP -0.4%

  • Reform UK overtakes PM Sunak's Conservatives in YouGov opinion poll

  • Six months ago the Conservative's poll result would have been unbelievable

  • There is no tier-one UK data, so risk appetite and the USD lead sterling

  • Charts; daily momentum studies flat line - 21-day Bollinger bands contract

  • Net positive 5, 10 & 21-day moving averages provide a modest topside bias

  • This week's 1.2859 high then 1.2893 March and 2024 high first resistance

  • Wednesday's 1.2732 low and then the 1.2680 May 30 base are first supports

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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