By Andrew M Spencer — May 09 - 12:00 AM
Steady in a tight 1.0742-1.0751 EBS range in a low-key FX session in Asia
German and French bank holidays, so likely quiet into the BoE rate decision
EUR/GBP flows may lead EUR after the decision - expecting a dovish hold
Charts- neutral 5, 10, and 21-day moving averages, momentum studies conflict
21-day Bollinger bands expand - bounce stalled awaiting the next trigger
1.0790 upper 21-day Bolliger band and last week's 1.0812 high key resistance
Friday's 1.0724 base and last Thursday's 1.0675 low are initial supports
1.0750/55 1.242 BLN and 1.0760 1.003 BLN are the close strikes for May 9th
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Source:
Refinitiv IFR Research/Market Commentary