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Aug 12 - 03:55 AM

GBP/USD - Steady As Market Digests Data UK Barrage

By Peter Stoneham  —  Aug 12 - 02:19 AM
  • Sterling little moved by the data: holding a small bid at 1.3870

  • UK Q2 preliminary GDP data close to market call at +22.2%

  • June GDP estimate +15.2% vs +14.9% mkt and +24.6% prev nL9N2PI001

  • Marginal bullish GBP/USD engulfing line Wed: needs Thurs confirmation

  • Key resistance close by: 10DMA 1.3880, 50DMA 1.3895 and cloud base 1.3901

  • Turning/trigger p[oint seen at 1.3927, 100-day moving average

  • EUR/GBP trying to lift out of a string of bearish closes: activity thin

    For more click on FXBUZ







GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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