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Feb 28 - 08:55 PM

GBP/USD - Bid Early, As PM Sunak Sells His Brexit Vision

By Andrew M Spencer  —  Feb 28 - 06:40 PM

  • +0.15% after closing off 0.35% amid month end U.S. dollar demand

  • PM Sunak busy selling his new Brexit vision to UK sceptics

  • If he is successful, deal will be longer-term positive for the UK economy

  • Tough winter for consumers - grocery price inflation hit record 17.1%

  • Charts - 5, 10 & 21 day moving averages fall, momentum studies conflict

  • 21 day Bollinger bands contract - signals remain net bearish

  • 1.2077 21 DMA tested 3 times, but closed below - close above bullish

  • Close above 21 DMA targets 1.2269 Feb 14th top - 1.1915 Feb low key support

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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