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Aug 05 - 09:55 PM

GBP/USD - Stalled But Technically The Bias Remains Higher

By Andrew M Spencer  —  Aug 05 - 08:12 PM

  • Flat after closing up 0.25%, supported by BoE tapering plans nL1N2PC0KK

  • Sterling in choppy consolidation for a week - needs a U.S. payrolls shock

  • UK to invest 5 mln stg in climate change resilience research nL8N2PC7KW

  • Charts; 10 & 21 daily moving averages climb - momentum studies base-rise

  • Positive signals - bias remains higher while 1.3838 21 DMA holds

  • 1.3991 61.8% June-July fall and 1.4016 upper 21 day Bolli pivotal resistance

  • Break would bring 1.4090 76.4% retracement of June-July fall into play

  • NY 1.3899-1.3949 range is initial support and resistance

For more click on FXBUZ


gbp aug 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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