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Apr 29 - 01:55 AM

GBP/USD - Touch Firmer Into A Likely Volatile Month End

By Andrew M Spencer  —  Apr 29 - 12:15 AM

  • +0.1% in a 1.2455-1.2496 range with only moderate month end flow

  • Sterling and EUR/GBP often volatile on month end rebalancing after big moves

  • Almost 60% of UK companies plan to raise prices in 2022 nL5N2WQ7CP

  • BoE to walk a fine line between inflation and recession May 5 nL5N2WO38Z

  • Charts; momentum studies, 5, 10 & 21 day moving averages head lower

  • 21 day Bollinger bands expand - strong bearish trending setup

  • Targets a test of the 1.2360 low in July 2020 then 1.2252 June 2020 base

  • Close above 1.2774 10 day moving average would undermine downside bias

For more click on FXBUZ


gbp apr 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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