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May 26 - 09:55 PM

GBP/USD - Uptrend Stalled - Progress Needed Soon To Sustain

By Andrew M Spencer  —  May 26 - 08:03 PM

  • Flat after closing off 0.2% amid EUR led broad USD strength

  • UK car output rebounds after last year's lockdown low nL5N2ND3X4

  • Brexit restrictions and supply chain issues weigh on manufacturing

  • Charts; 10 & 21 daily moving averages climb, 21 day Bolli's head higher

  • Test of 1.4240 2021 high still viable, but progress needed soon

  • The close below 1.4143 rising 10 DMA suggests further consolidation

  • Sustained break of 1.4054 21 DMA would be a bearish signal

  • NY 1.4113 low and early London 1.4175 high initial support and resistance

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gbp may 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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