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
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Source:
Refinitiv IFR Research/Market Commentary