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Apr 26 - 09:55 PM

GBP/USD - Heavy As Growth Fears Weigh, 1.2500 Next Stop

By Andrew M Spencer  —  Apr 26 - 07:35 PM

  • -0.1% after tumbling 1.3% offshore, as UK economic growth fears weigh

  • Soaring inflation is expected to hit domestic spending and the economy

  • UK pay settlements heading to highest since 2008 - XpertHR nL5N2WO6P2

  • Though wages are moving higher, they remain outpaced by inflation

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

  • 21 day Bollinger bands expand - strong bearish trending setup

  • Targets a test of 1.2496, 61.8% of the 2020-2021 rise

  • Close above 1.2896 10 day moving average to undermine downside bias

    For more click on FXBUZ


gbp Apr 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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