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May 14 - 09:55 PM

GBP/USD - A Rate Cut Is Viable, But Signals Support Sterling

By Andrew M Spencer  —  May 14 - 08:30 PM
  • Trades 0ff 0.03% after closing up 0.27% with the USD off 0.2%

  • Tuesday's mixed jobs report, but BoE's Pill - summer rate cut is possible

  • BOEWATCH - 24.39 pt Aug cut from 23.54pt at Friday's close, little changed

  • There is no major UK data so risk appetite and the USD to lead into US CPI

  • Charts; A bullish outside day, 5, 10 & 21-day moving averages climb

  • 21-day Bollinger bands expand, daily momentum studies rise - a positive bias

  • Resistance starts at the 1.2617 upper 21-day Bolli then the 1.2634 May high

  • A close below the 1.2446 May low would end the topside bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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