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Feb 29 - 11:55 PM

GBP/USD - Resilient Ahead Of A Potentially Volatile US Session

By Andrew M Spencer  —  Feb 29 - 10:10 PM
  • +0.05% in a 1.2622-1.2634 range in Asia, with decent volume on D3

  • There is no major UK data, so the USD and risk appetite to lead sterling

  • US PMI and Consumer Sentiment, plus a slew of Federal Reserve speakers

  • A potentially volatile U.S. session could easily move the pound

  • Charts; 5, 10 & 21-DMA's conflict as the 21-day Bollinger bands contract

  • Daily momentum studies crest/fall - daily charts show no significant bias

  • New York's 1.2613-1.2681 range is the initial support and resistance

  • A 1.2613 break would initially target a test of last week's 1.2579 low

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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