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Apr 04 - 09:55 PM

GBP/USD - Inside Day As Cross Flows Provided Support

By Andrew M Spencer  —  Apr 04 - 07:55 PM

  • Steady after closing unchanged with an inside day, as consolidation extends

  • EUR/GBP closed -0.7%, providing underlying cable support as the USD firmed

  • BoE's Cunliffe remains dovish as Ukraine to hit European growth nL5N2W248Z

  • Charts; momentum studies conflict - 5, 10 & 21 day moving averages coil

  • 21 day Bollinger bands contract - modest net negative signals again neural

  • First major support is 1.3011 lower 21 day Bolli band, then 1.3000 2022 low

  • Last week's 1.3181 high, then 1.3250 upper 21 day Bolli band key resistance

  • London 1.3093 low and NY 1.3128 high are initial support and resistance

For more click on FXBUZ


gbp Apr 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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