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Sep 08 - 09:55 PM

GBP/USD - Bearish Outside Day, Data Undermines BoE Rate Caution

By Andrew M Spencer  —  Sep 08 - 08:10 PM
  • +0.05% after closing -0.35% - the firmer USD, soured risk appetite weighed

  • UK labour market and wages lost steam in August, recruiters say

  • If upcoming data confirms the softer data, BOE rate expectations will change

  • UK PM Starmer in Dublin at the weekend, working to repair EZ relations

  • Charts - A bearish outside day, 5, 10 & 21 daily moving averages coil

  • momentum studies slip, 21-day Bolli bands contract - a neutral setup

  • Friday's 1.3238 top and the 1.3269 August high are first resistance

  • A close below 1.3038, 38.2% April/August rise would be a bearish signal

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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