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Feb 16 - 10:55 PM

GBP/USD - The Budget Caps Surveys - Sterling Remains Firm

By Andrew Spencer  —  Feb 16 - 09:51 PM

• +0.1% in 1.2582-1.2608 range with moderate interest on FX Matching

• UK firms brace for a hit from budget-led tax hikes, CIPD surveys show

• The survey joins a slew of negative business surveys since the budget

• UK housing market starts to feel the drag from tax change, Rightmove

• UK Prime Minister Starmer offers to send peacekeeping troops to Ukraine

• Charts- 5, 10 & 21-day moving averages climb, as 21-day Bolli bands rise

• Positive daily momentum studies - bullish daily signals to start the week

• Friday's 1.2550 low and 1.2631 high are initial support and resistance
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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