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Mar 18 - 02:55 AM

GBP/USD - USD Led Lower Ahead Of BoE, As Range Survives Fed

By Andrew M Spencer  —  Mar 17 - 10:48 PM
  • -0.15% at the base of a busy 1.3947-1.3977 range, with the USD firmer

  • BoE to keep recovery hopes in check despite vaccine progress nL8N2LF580

  • No changes in policy expected - focus on the statement details

  • Charts; neutral momentum studies, 5, 10 & 21 DMAs flat line - little bias

  • 1.4010, 50% February-March fall capped last Friday, remains key resistance

  • 1.3801 lower 21 day Bollinger band and 1.3779 March low first major support

  • 1.3853 NY low and earlier 1.3977 Asian top initial support, resistance

  • So many competing factors - look for cable ranges not trends nL1N2LG00B

For more click on FXBUZ


gbp 2 mar 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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