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May 18 - 01:55 AM

GBP/USD - New Trend High - Optimism And Bullish Charts Support

By Andrew M Spencer  —  May 17 - 11:39 PM

  • +0.2%, as the safe haven USD weakened with upbeat Asian stocks, Nikkei +2.1%

  • Fresh trend high in a 1.4135-1.4177 range with plenty of flow

  • Sterling is resilient, as easing lockdowns spur recovery optimism

  • UK risks Italy-style decline as economic challenges build nL5N2N42I7

  • Charts; new trend high leaves rising 5, 10 & 21 DMAs, 21 day Bolli's expand

  • Positive setup targets a test of the 1.4240 2021 high longer term

  • Bias is higher while 1.4056 rising 10 daily moving average holds


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gbp 2 may 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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