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Refinitiv
May 27 - 09:55 PM

GBP/USD - Election Leads, Fresh Trend High Targets 1.2893

By Andrew M Spencer  —  May 27 - 08:20 PM
  • Flat early after closing up 0.25% - resilient with the USD off 0.15%

  • PM Sunak proposes tax cuts for pensioners in new election pledge

  • In chasing older voters the Conservative Party may alienate the young

  • No tier one UK data or scheduled BoE events - risk appetite and the USD lead

  • Charts; daily momentum studies rise - 5, 10 & 21-day moving averages climb

  • 21-day Bollinger bands move higher - a strong positive trending setup

  • Sustained 1.2766 0.786% Mar/Apr fall break targets the 1.2893 March high

  • Close below the 1.2717 10-day moving average would flag caution to longs

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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