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Aug 10 - 01:55 AM

GBP/USD - Housing Sector Squeezed - U.S CPI Event Risk

By Andrew M Spencer  —  Aug 09 - 11:35 PM
  • -0.05% in a 1.2707-1.2722 range with continuous flow on D3, ahead of US CPI

  • UK RICS house price gauge falls to lowest since 2009 as interest rates rise

  • Despite the fall, house prices remain more than 20% higher than pre-pandemic

  • Charts; negative daily momentum studies, while 21-day Bollinger bands ease

  • 10 & 21-day moving averages edge lower - net a modest bearish setup

  • This week's 1.2685 low and then the 1.2620 August base are initial supports

  • 1.2760 10-DMA then 1.2782 early London high Wednesday are first resistances

  • 1.2620 August low and 1.2820, 38.2% July/August fall are the pivotal levels

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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