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Mar 05 - 01:55 AM

GBP/USD - Heavy, As USD Weighs - U.S. Payrolls Pivotal

By Andrew M Spencer  —  Mar 04 - 10:07 PM
  • -0.15% in a 1.3868-1.3897 range - USD led in a fairly busy session

  • Strong U.S. payrolls, poll +185K would see higher USD & UST yields

  • Could trigger a significant and deep cable correction nL2N2L300E

  • COVID-19 vaccine confidence grows as side effect worries fade nL2N2L21VY

  • Charts; 1.3860-1.4021 range for over a week - neutral 5, 10 & 21 DMAs

  • Close below rising 21 DMA Thursday - 1.3920 today was a negative signal

  • 1.3846, 50% of the 2021 rise is initial significant support

  • Close below 1.3846 would target 1.3752 61.8% retracement

    For more click on FXBUZ

 

gbp 2 mar 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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