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Apr 03 - 08:55 PM

GBP/USD - 1.2500 Base In Place, As USD Longs Trim Pre-US Jobs

By Andrew M Spencer  —  Apr 03 - 07:40 PM
  • Steady after closing +0.57% with the U.S. dollar off 0.5% - 1.2500 rejected

  • Broad profit taking on the USD March/April uptrend ahead of volatile US jobs

  • UK supermarket sales +5.4% in March, as slowing inflation boosted sentiment

  • Techs; Wednesday's bounce leaves mixed 5, 10 & 21-day moving averages

  • Daily momentum studies rise, while 21-day Bollinger bands head lower

  • Downtrend stalled - close above 1.2674 38.2% Mar/Apr fall would be positive

  • 1.2501 Dec base, 1.2517 2024 low, and 1.2536 Feb 14 base are strong support

  • 1.2563 London low and 1.2674 38.2% Fibo are initial support, resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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