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
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Source:
Refinitiv IFR Research/Market Commentary