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Jun 05 - 10:55 PM

GBP/USD - Remains Resilient, Looking To Test The 2024 High

By Andrew M Spencer  —  Jun 05 - 08:20 PM
  • +0.07% after closing up 0.15%, resilient with the U.S. dollar up 0.15%

  • UK's services selling price inflation has eased for the last three months

  • Inflation easing is good news for the BoE into the June 20th rate decision

  • UK's construction PMI leads data, but the ECB rate decision/statement is key

  • Charts; daily momentum studies flat-line - 21-day Bollinger bands contract

  • 5, 10 & 21-day moving averages rise - daily signals remain positive

  • A close below the rising 1.2700 21-DMA would end the topside bias

  • This week's 1.2818 high and the 1.2864 upper 21-day Bolli first resistances

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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