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Mar 14 - 03:55 PM

GBP/USD - Consolidates, Topside Momentum Wanes

By Justin McQueen  —  Mar 14 - 01:46 PM

• Cable drop contained, period of consolidation persists. Range: 1.2911-58

• UK GDP miss provides reminder that domestic factors are a headwind

• German parties agree major debt overhaul

• Fiscal divergence with UK supports dip buying in EUR/GBP

• Resistance: 1.3000-46 (pre-US election level). Daily RSI points to pullback

• Support: 1.2810 (Dec high), 1.2792 (200DMA), 1.2655 (38.2% fib of YTD range)

• COMMENT: Window of opportunity opens up for sterling bears

• BoE-speak round-up
gbpusd daily eod


(Justin McQueen is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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