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Sep 02 - 01:55 AM

GBP/USD - Softer With USD Resilient, But Likely Short Lived

By Andrew M Spencer  —  Sep 01 - 11:45 PM
  • Touch softer in a 1.3367-1.3400 range with only moderate interest

  • No progress on U.S. coronavirus stimulus package nL1N2FZ02D - USD negative

  • UK prices fall as retailers step up discounting in August, BRC nL8N2FY1VD

  • Techs - momentum studies, 5, 10 & 21 DMAs head north - positive setup

  • 21 day Bollinger bands expand, which supports a trending market

  • 1.3394 upper band suggests cable overbought Tuesday, but bias is higher

  • Targets 1.3516 2019 high - break of 1.3166 21 DMA needed to end the bias

    For more click on FXBUZ

gbp 2 sep 2 Click here

Source:
Refinitiv IFR Research/Market Commentary

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