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Aug 16 - 09:55 PM

GBP/USD - Trend Line Caps, Likely Base Around 1.3880

By Andrew M Spencer  —  Aug 16 - 08:03 PM

  • Flat after closing 0.2% lower with a firmer USD and soured risk appetite

  • UK gov't launches strategy for low-carbon hydrogen production nL1N2PN0XX

  • If the strategy is well executed, hydrogen will help fight climate change

  • Charts; neutral momentum studies, 5, 10 & 21 daily moving averages coil

  • Neutral setup, but downside bias survives while 1.3880 Aug trend line caps

  • Initial target is 1.3778/1.3783, 50% of the July bounce and 200 DMA

  • NY 1.3828 low and London 1.3877 high are initial support resistance

  • Tight range likely in Asia ahead of UK jobs data, unemployment poll 4.8%

For more click on FXBUZ


gbp aug 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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