By Andrew M Spencer — May 30 - 07:55 PM
Steady after closing up 0.2% against a broadly weaker USD, with risk firmer
Sterling often volatile on month end rebalancing - models suggest USD demand
UK business confidence ticked higher in May - Lloyds Bank nL8N2XM438
Construction and manufacturing sectors improved, but the retail sector fell
Charts; mixed momentum studies, 5, 10 & 21 day moving averages head higher
21 day Bollinger bands expand - technicals provide a positive setup
1.2727 50% of 2022 fall and 1.2746 upper 21 day Bolli band first resistance
London afternoon1.2625 low then early London 1.2617 base initial supports
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gbp May 31 Click here
Source:
Refinitiv IFR Research/Market Commentary