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Jun 17 - 09:55 PM

GBP/USD - CPI And The BoE Statement Key For Rate Expectations

By Andrew M Spencer  —  Jun 17 - 08:25 PM
  • Up 0.1% as the USD softens in early Asia, after closing 0.15% higher

  • 63 of 65 economists polled last week expect the BoE to begin cuts in August

  • Refinitiv BOEWATCH prices 10.42 cuts in August and 20.77 in September

  • CPI data and tone of Thursday's BOE statement pivotal for the rate outlook

  • Charts; daily momentum studies fall - horizontal 21-day Bollinger bands

  • 5, 10 & 21-day moving slip - setup suggests a modest downside bias

  • Friday's 1.2657 low then 1.2645, 0.382% of Apr/Jun rise are first support

  • 1.2742 21-day moving average and Friday's 1.2763 high are initial resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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