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Aug 02 - 11:55 PM

GBP/USD - Positive Signals Survive - USD To Drive Next Move

By Andrew M Spencer  —  Aug 02 - 11:30 PM

  • +0.05% in the middle of a tight 1.3885-1.3899 range with only light flow

  • Summer holiday season in full swing in the UK and Europe weighs on interest

  • Charts; 5, 10 & 21 daily moving averages climb - momentum studies crest

  • Net bullish signals, but 1.4000 test needed soon to sustain bullish view

  • 1.3846 10 DMA is initial support - 1.3820 21 DMA is the pivotal level

  • 1.3985 upper 21 day Bollinger and 1.3991 61.8% June July fall cap at present

  • 1.4000 break would initially target 1.4090 76.4% of the June-July fall

  • No significant data of scheduled BoE activity today- USD, risk to lead cable

    For more click on FXBUZ


gbp 2 aug 3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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