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Sep 06 - 01:55 AM

GBP/USD - A Positive Setup Into Potentially Pivotal US Payrolls

By Andrew M Spencer  —  Sep 05 - 11:40 PM
  • Steady in an occasionally busy 1.3174-1.3183 range on LSEG FX Matching

  • Mixed markets in Asia ahead of the potentially pivotal US payrolls

  • There is no tier one UK data or BoE events - USD and risk to lead gbp

  • Report says UK needs an extra $1.3 tln investment to spark economic growth

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

  • 21-day Bolli bands contract, momentum studies flat line - positive setup

  • Last Friday's 1.3200 top and last week's 1.3269 high are first resistance

  • A close below 1.3038, 38.2% April/August rise would end the topside bias

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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