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Aug 01 - 01:55 AM

GBP/USD - Bid With The Softer USD, Amid Positive Signals

By Andrew M Spencer  —  Jul 31 - 11:45 PM

  • +0.1%, at the top of a 1.2165-1.2198 range with constant flow

  • USD under pressure in Asia, as yen strength continues, GBP/JPY -0.3%

  • Oil is down around 1% ahead of this week's OPEC+ meeting nL1N2ZD003

  • E-mini S&P off 0.4%, after soft China nZUN005BEG, Japan data nZRN004TO4

  • Raft of PMI's in Europe and U.S. ISM key for risk appetite and sterling

  • Charts; neutral daily momentum studies - 5, 10 & 21 DMAs base or rise

  • 21 day Bollinger bands expand - overall a modest positive setup

  • 1.2320, 61.8% of the May-July fall is initial significant resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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