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Jul 14 - 01:55 AM

GBP/USD - Busy Early, Then Bid With A Softer USD - Range Rules

By Andrew M Spencer  —  Jul 13 - 11:40 PM

  • +0.05% in the top of a 1.3802-1.3822 range - busy at the open then quiet

  • U.S., UK trade chiefs meet, agree to strengthen bilateral ties nL1N2OP2WU

  • UK seeks a U.S. trade deal when the Biden administration is ready to talk

  • Charts; neutral momentum studies, 5, 10 & 21 daily moving averages conflict

  • 21 day Bollinger bands contract - mixed signals suggest range trading

  • 1.3733 June low and 1.3930, 38.2% of the June-July fall a viable range

  • NY 1.3800 - 1.3857 range is initial support and resistance

  • UK inflation is event risk in early London poll 2.2% y/y

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gbp 2 jul 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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