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Aug 16 - 08:55 PM

GBP/USD - Opens Higher Ahead Of Key UK Inflation Data

By Andrew M Spencer  —  Aug 16 - 07:35 PM

  • Steady after closing up 0.35%, as positions adjusted into CPI - poll 9.8

  • Expecting a tight Asian trading range ahead of the UK inflation data

  • UK-EU conflict over post-Brexit scientific research nL8N2ZS3WZ

  • EU still UK's largest trading partner - trade friction drag on UK economy

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

  • 21 day Bollinger bands contract - signals suggest choppy consolidation

  • 1.2004 August low then 1.1963, 61.8% July-August rise key supports

  • 1.2112/19, 5, 10 & 21 DMAs then 1.2174 61.8% August fall resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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