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Aug 30 - 01:55 AM

GBP/USD - Yield Spread Outlook Supports - Uptrend Holds

By Andrew M Spencer  —  Aug 29 - 11:45 PM
  • Slipped 0.05% in a tight quiet 1.3162-1.3171 range with the USD up 0.05

  • Cautious BoE with dovish Fed and ECB provide underlying sterling support

  • US Core PCE CPI, closely watched by the Fed, leads offshore event risk

  • Charts - 10 & 21 daily and weekly moving averages head higher, 5 DMA crests

  • 21-day Bollinger bands rise as momentum studies conflict - bias is higher

  • The uptrend targets a test of 1.3410, 0.786% of the 2021-2022 fall

  • This week's 1.3269 high is first resistance, then 1.3336 upper 21-day Bolli

  • A close below the 1.3139 10-day moving average would be a concern for bulls

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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