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Mar 25 - 12:12 AM

GBP/USD - Treads Water Above 1.1500, Awaiting Next USD Move

By Andrew M Spencer  —  Mar 24 - 11:05 PM
  • +0.1% - low key FX Asia - US stimulus still on hold, but close nL1N2BH0HC

  • Only moderate volumes in a 1.1743-1.1795 range - quiet by recent standards

  • Charts; 10 & 21 daily weekly and monthly MAs trend south - negative setup

  • Resilient below 1.1500, the 2016 post Brexit vote base - no longer over sold

  • Consolidation, as dust settles on massive global measures to fight recession

  • Sustained break of 1.1907 falling 10 DMA needed to undermine bearish bias

  • NY 1.1686-1.1800 range initial support-resistance - next move likely USD led

  • Inflation leads data in London - see chart for polls




gbp 2 mar 25 Click here

ukd mar 25 Click here

Source:
Refinitiv IFR Research/Market Commentary

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