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May 10 - 02:55 AM

GBP/USD - Resilient Above 1.2250, But Charts And Data Weigh

By Andrew M Spencer  —  May 10 - 12:05 AM

  • +0.2% towards the top of a 1.2320-1.2366 range with moderate flow on D3

  • Resilient as risk sold early, then climbed with E-mini S&P now +0.45%

  • UK could be heading for conflict with EU on N.Ireland protocol nL2N2X12QQ

  • UK shoppers cut spending as inflation hits household budgets nL8N2UI2LE

  • Charts; momentum studies edge lower, 5, 10 & 21 day and week MA's slide

  • 21 day Bollinger bands fall, as the strong bearish setup remains in play

  • 1.2459 10 DMA tested last week - remains the first major resistance

  • 1.2262 early Europe low Monday and 1.2252 June 2020 base initial supports

For more click on FXBUZ


GBP 2 May 10 Click here

Source:
Refinitiv IFR Research/Market Commentary

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