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Refinitiv
Jun 12 - 01:55 AM

GBP/USD - Trend Ends - Off The Session Low Into Major UK Data

By Andrew M Spencer  —  Jun 11 - 11:35 PM
  • -0.3% with risk under pressure, but off the low with E-mini S&P +1.1%

  • Traded a 1.2546-1.2599 range with plenty of flow after Wall Street's melt

  • Charts; dip leaves momentum studies & 5 DMA cresting, 10 & 21 DMAs climb

  • Mixed signals with the 1.2623 10 DMA broken - topside bias is over

  • Mixed signals suggest a short term period of consolidation

  • Sustained break of 1.2530, 38.2% May-June rise would be bearish

  • Significant UK data, led by GDP and IP - see chart for polls


























UK data jun 12 Click here

gbp 2 jun 12 Click here

Source:
Refinitiv IFR Research/Market Commentary

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