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Aug 25 - 09:55 PM

GBP/USD - On Hold Into Powell, As Energy Prices Set To Boom

By Andrew M Spencer  —  Aug 25 - 07:50 PM

  • Touch softer after closing +0.4%, as shorts trimmed into Fed's Powell speech

  • Yield differentials were unchanged - 10yr gilts and 10yr UST both dipped 8bp

  • UK set for a record leap in fuel bills as cost of living surges nL8N30131X

  • Cost of living crisis should be the number one issue for the next PM

  • Charts: daily momentum studies conflict, 21 day Bollinger bands slide

  • 5, 10 & 21 day and week moving averages fall - bearish trending setup

  • This week's 1.1877 high then 1.1902 10 DMA first major resistances

  • Asian 1.1793 NY low then Wednesday's 1.1756 base are initial supports

  • Close above 1.1902 10 DMA needed to undermine the downside bias

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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