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Jun 11 - 09:55 PM

GBP/USD - Euro Drags Sterling Higher - 1.3478 Is Pivotal Support

By Andrew Spencer  —  Jun 11 - 08:26 PM

• +0.2% with the USD off 0.15%, after closing +0.35%, with EUR/GBP +0.45%

• Chaos in the U.S as protests spread prompts safe-haven flows into Europe

• UK's Reeves sets out over 2 tln pounds of spending to revive the government

• UK surveyors report the weakest house price growth in nearly a year - RICS

• Charts - mixed 5, 10, & 21-day moving averages and momentum signals

• 21-day Bollinger bands contract - the daily signals show no strong bias

• Last week's 1.3616 2025 high, then the 1.3749 2022 high are first resistance

• 1.3478 21 DMA and then 1.3417 May 29th base are the initial supports

• A close below the 1.3478 21 DMA would be a bearish signalAndy Click here

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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