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Feb 21 - 07:55 PM

GBP/USD - Opens Higher After Surprise Upbeat UK Data

By Andrew M Spencer  —  Feb 21 - 06:15 PM

  • Steady after closing Up 0.6%, despite a stronger USD - EUR/GBP -1%

  • Strong data surprised markets, gilt yields and sterling jumped

  • North Ireland's DUP - more work needed to solve post-Brexit trade row

  • EU more optimistic - deal with largest market would boost sterling

  • Charts - bullish outside day leaves conflicting 5, 10 & 21 DMAs

  • 21 day Bollinger bands edge lower with mixed momentum studies

  • Signals show no clear bias - 1.2166 21 DMA is pivotal resistance

  • NY 1.2059 - 1.2147 range initial support and resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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