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Jun 23 - 08:55 PM

GBP/USD - At Pivotal Levels Into The Bank Of England

By Andrew M Spencer  —  Jun 23 - 07:24 PM

  • Flat after closing +0.15%, despite a softer USD, ahead of BoE rate decision

  • BoE to leave rates on hold and maintain inflation is transient nL5N2O03IF

  • Sterling is likely to trade in tight ranges ahead of the Bank of England

  • Charts; daily momentum studies base, 10 & 21 daily moving averages fall

  • 21 day Bollinger bands ease - net bearish setup, but progress needed soon

  • 10 DMA capped in NY, now 1.3981 - break would undermine downside bias

  • NY 1.3952-1.4001 range is initial support and resistance

  • 1.3895/00 797M and 1.4000 687M strikes likely define the broad range

For more click on FXBUZ


gbp jun 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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