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May 25 - 09:55 PM

GBP/USD - Negative Factors Build, But Sterling Remains Resilient

By Andrew M Spencer  —  May 25 - 08:00 PM

  • Steady after climbing 0.4%, despite a firmer USD, on late NY demand

  • Dour outlook as optimism dries up for UK services industry nL5N2XH4KP

  • April UK car production falls 11% on chip crisis, supply chain nB8N2TT00O

  • PM Johnson hangs in after 'partygate' - voters will not forget nL2N2XH0OQ

  • Despite a raft of negative factors sterling remains resilient

  • Charts; momentum studies, 5, 10 & 21 day moving averages base or rise

  • 21 day Bollinger bands expand - signals provide a modest positive setup

  • 1.2592, 38.2% March-May fall tested, 1.2639 May high resilient resistance

    For more click on FXBUZ


gbp May 26 Click here

Source:
Refinitiv IFR Research/Market Commentary

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