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Jun 06 - 08:55 PM

GBP/USD - Boris Survives, More Soft Data, Sterling In Limbo

By Andrew M Spencer  —  Jun 06 - 07:30 PM

  • -0.05% after closing +0.3%, as UK returned from the platinum Jubilee weekend

  • PM just won the confidence vote, now he has to convince voters nL8N2XT2NS

  • UK shoppers cut spending by most since COVID lockdown in 2021 nL8N2XT27C

  • Dour UK consumer mood as cost of living soars will get worse come winter

  • Charts; momentum studies, 5, 10 & 21 day moving averages conflict

  • 21 day Bollinger bands climb - neutral setup after last week's consolidation

  • Rising 21 day moving average a base last week now 1.2462 pivotal support

  • 1.2577 London high, then 1.2665 May top are initial resistance

    For more click on FXBUZ


gbp jun 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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