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Feb 26 - 12:12 AM

GBP/USD - Tight Range, But Busy With 1.3000 Strikes A Magnet

By Andrew M Spencer  —  Feb 25 - 10:15 PM
  • Touch softer, but busy when Asia fully opened in a tight 1.2993-1.3008 range

  • EU-UK trade talks to begin Monday, with little hope of early progress

  • IFS believes fin min Sunak should resist rewriting fiscal rules nL4N2AP119

  • Sunak must increase revenue to fund Johnson's post election spending plans

  • Yesterday's bounce leaves momentum studies basing, 5, 10 & 21 DMAs conflict

  • Neutral setup at familiar levels - 1.3000 555M, and 1.3030 211M strikes cap

  • Well tested 1.2843-1.3133 21 day Bollinger bands define the broad range

  • NY 1.2952-1.3018 range is initial support-resistance

gbp 2feb 26 Click here

Source:
Refinitiv IFR Research/Market Commentary

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