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Sep 13 - 09:55 PM

GBP/USD - On Hold Below Solid Resistance At 1.3900

By Andrew M Spencer  —  Sep 13 - 07:40 PM

  • Steady after closing up 0.1%, as choppy consolidation extends

  • UK Gov't to provide GBP 600M in start up loans outside London nFWN2QF0RM

  • Move is another policy piece designed to level the UK playing field

  • Sterling is in a 1.3700-1.3900 holding pattern, which looks set to extend

  • Charts; momentum studies climb, 5, 10 & 21 DMAs conflict - neutral setup

  • Major 1.3900 resistance, 1.3890 Sep double top, 1.3897 upper 21 day Bolli

  • Close above 1.3900 would open the door to a test of 1.3983 July trend high

  • 1.3797 London low then 1.3769 21 day moving average initial supports

    For more click on FXBUZ


gbp Sep 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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