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Aug 27 - 01:55 AM

GBP/USD - Soft - All Eyes On Fed Chair Powell

By Andrew M Spencer  —  Aug 26 - 11:43 PM

  • Off 0.05% in a 1.3679-1.3702 range, bounced from an early round of selling

  • Asia marking time with modest moves ahead of Fed's Powell at Jackson Hole

  • Expect volatility whatever Powell's stance, as markets setup for September

  • Charts; 21 day Bollinger bands, 10 & 21 daily & weekly moving averages fall

  • Daily momentum studies conflict - mixed signals, but a net bearish setup

  • Fall targets a test of 1.3602 August low with 1.3572 July trend base below

  • 1.3792/1.3801 break, 50% July-August fall, 200 & 21 DMAs ends downside bias

  • For more click on FXBUZ


gbp 2 aug 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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