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May 30 - 09:55 PM

GBP/USD - Upbeat Sentiment - Signals Remain Supportive

By Andrew M Spencer  —  May 30 - 08:15 PM
  • Flat early after closing up 0.25% with USD off 0.35% after soft U.S. data

  • UK business optimism hits eight-year high - Lloyds Bank Business Barometer

  • Hiring plans are the strongest since 2017 - confident into the election

  • Charts; daily momentum studies crest - 5, 10 & 21 DMAs edge higher

  • 21-day Bollinger bands climb - signals continue to show a net positive setup

  • A stained break of the rising 1.2649 21-day moving average would be bearish

  • This week's 1.2801 high and Thursday's 1.2680 low initial support/resistance

  • Close above 1.2801 would target a test of the 1.2893 2024 high in March

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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