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Sep 15 - 09:55 PM

GBP/USD - Firmer, But Resistance Around 1.3900 Should Cap

By Andrew M Spencer  —  Sep 15 - 07:43 PM

  • +0.1% after closing up 0.25% with UK inflation at 9-year highs nL8N2QH181

  • 51 UK lawmakers urge BoE to penalise fossil fuel financing nL8N2QF4C1

  • Major BoE changes on climate capital charges for banks unlikely nL2N2OD1UB

  • Charts; momentum studies conflict, 5, 10 & 21 DMAs climb- net positive setup

  • Tested 1.3900 Tuesday, then retreated hard - suggests solid resistance

  • 1.3794, 38.2% of August-September rise and 1.3776 21 DMA are initial support

  • 1.3909 upper 21 day Bollinger band Tuesday's 1.3913 high first resistance

  • Little upcoming UK data - 1.3794-1.3913 range should hold into next week

    For more click on FXBUZ


gbp Sep 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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