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Jun 02 - 09:55 PM

GBP/USD - Sterling Supported By Hopes Of Easing EZ Tensions

By Andrew M Spencer  —  Jun 02 - 08:45 PM
  • Flat early after closing up 0.1% with the U.S. dollar off 0.1% on Friday

  • Sterling resilient, supported by hopes a Labour win will ease EZ tensions

  • A closer relationship with the EZ would certainly help UK business

  • Charts; daily momentum studies crest - 5, 10 & 21 day moving averages rise

  • 21-day Bollinger bands climb - signals continue to show a net positive setup

  • A sustained break of the rising 1.2659 21-DMA would be a bearish signal

  • Lats week's 1.2801 high and Thursday's 1.2680 low initial support/resistance

  • A close above 1.2801 would target a test of the 1.2893 2024 high in March

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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