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Sep 01 - 09:55 PM

GBP/USD - Heavy, As Negative Issues Mount For The New PM

By Andrew M Spencer  —  Sep 01 - 07:50 PM

  • Steady after closing -0.7% amid broad based UST led, U.S. dollar strength

  • Cheaper BoE credit needed to finance climate friendly projects nL8N30852Z

  • September UK rail workers to strike over pay, jobs, conditions nL8N3084LI

  • Cost of living crisis, strikes in many sectors - new PM must make an impact

  • Charts: daily momentum studies, 21 day Bolli bands, 5, 10 & 21 DMAs all fall

  • Bearish trending setup targets 1.1413 March 2020 base longer-term

  • Close above 1.1702 10 day moving average needed to undermine downside bias

  • 1.1473 lower 21 day Bolli band initial support - 1.1613 5DMA resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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