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Feb 03 - 11:55 PM

GBP/USD - Key Support Broken Ahead Of The Bank Of England

By Andrew M Spencer  —  Feb 03 - 10:08 PM
  • Touch firmer in a tight, quiet 1.3640-1.3654 range into the Bank of England

  • BoE on hold, focus on recovery hopes and negative rate comments nL8N2K96FA

  • Many UK companies report trade hassles from Brexit shift: HSBC nL8N2K95ED

  • Uk government hopes Brexit issues are teething problems, but we will see

  • Charts; 5, 10 & 21 daily moving averages conflict, momentum studies slip

  • Close below 1.3650 21 DMA suggests the uptrend is in a consolidation phase

  • 1.3605 50% 2021 bounce and 1.3569 61.8% are key support levels

  • 1.3670 NY high and Wednesday's 1.3683 top and 10 DMA initial resistance

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gbp 2 feb 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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