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May 31 - 09:55 PM

GBP/USD - Key Support Held But UK Data Continues To Weigh

By Andrew M Spencer  —  May 31 - 07:55 PM

  • Steady after closing down 0.4% on the stronger U.S. dollar at month end

  • UK private sector sees little growth in next 3 months - CBI nL8N2XN44R

  • UK retailers raise prices by most in 10 years - inflation hits nL8N2XN3D3

  • Data continues to show BoE's tight path between inflation and recession

  • Techs; momentum studies conflict, 5, 10 & 21 day moving averages climb

  • 21 day Bollinger bands expand - charts suggest the top is the weak side

  • Friday's 1.2666 May high then 1.2727 50% of 2022 fall first resistance

  • 10 DMA a base Tuesday, now 1.2577 - close below would be negative

    For more click on FXBUZ


GBP jun 1 Click here

Source:
Refinitiv IFR Research/Market Commentary

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