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May 22 - 11:55 PM

GBP/USD - PMIs Increase In Importance Ahead Of July 4Th

By Andrew M Spencer  —  May 22 - 11:25 PM
  • +0.05% in a very tight 1.2718-1.2725 range on D3 with moderate flow

  • Rishi Sunak calls UK national election for July 4 - it's 'time to choose'

  • Labour has a big lead in the polls - Sunak needs a spectacular campaign

  • PMIs lead data risk, Services poll 54.7, Manufacturing 49.5, composite 54

  • Charts; neutral daily momentum studies- 5, 10 & 21-day moving averages climb

  • 21-day Bollinger bands rise - daily charts show a strong positive setup

  • 1.2766 0.786% Mar/Apr fall capped in London- break targets 1.2893 March high

  • Close below the 1.2588 21-day moving average low would end the positive bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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