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May 15 - 09:55 PM

GBP/USD - Bounce Leaves A Solid Range Base, USD And Risk Lead

By Andrew M Spencer  —  May 15 - 07:35 PM
  • Steady after closing up 0.65%, recovering Friday's loss with a softer USD

  • BoE chief economist Pill, UK must guard against inflation sticking above 2%

  • With UK inflation above 10%, inflation may struggle to move below 4%

  • Britons face biggest tax rise in coming years, since 1979, think tank says

  • Charts; neutral momentum studies, while 5, 10 & 21-DMAs conflict

  • 21-day Bollinger bands contract - bounce leaves a neutral setup

  • 1.2436 May base and the 1.2679 May high are the short-term key levels

  • 1.2504 NY low and 1.2465 10 DMA are initial support, resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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