By Andrew Spencer — May 13 - 12:00 AM
• +0.05% in a fairly busy 1.3169-1.3189 range on FX Matching
• UK shoppers celebrate Easter and the sunshine with a spending splurge
• British pension funds pledge to step up UK investments - should boost growth
• UK employment and US CORE CPI, Fed's favoured inflation data lead event risk
• Charts - 5, 10, & 21-day moving averages crest/fall, momentum studies slip
• Neutral 21-day Bollinger bands - the daily charts have turned net bearish
• 1.3297 21-DMA, then last week's 1.3402 high, are the first resistance levels
• Monday's 1.3140 low, then 1.3077, 0.5% of the April rise are first support
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters