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Oct 08 - 01:55 AM

GBP/USD - Resilient As Wages And Inflation Fears Rise

By Andrew M Spencer  —  Oct 07 - 11:04 PM

  • Steady in a very tight 1.3612-1.3619 range - modest interest pre US payrolls

  • UK starting pay jumps by most on record as staff shortages bite nL8N2R255C

  • Pay rises broad based - supports comments from BoE's Pill nL8N2R32GM

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

  • 21 day Bollinger bands slide - bias remains lower while 1.3661 21 DMA caps

  • Targets another test of 1.3419, 38.2% May 2020 to June 2021 rise

  • Sustained 1.3670 break to target a test of falling 1.3913 upper 21 day Bolli

  • Sterling needs a trigger and event risk approaches nL1N2R32UC

For more click on FXBUZ


gbp 2 Oct 8 Click here

Source:
Refinitiv IFR Research/Market Commentary

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