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Sep 05 - 09:55 PM

GBP/USD - Relief Rally As UK Political Uncertainty Ends

By Andrew M Spencer  —  Sep 05 - 08:50 PM

  • +0.5%, leading USD lower - short squeeze as Truss becomes PM nL8N30C3LW

  • Cautious UK shoppers, feeling inflation, cut non-essentials nS8N2RN03J

  • Food spending +7.2%, utility bills +45.2% on Barclaycard - tough winter

  • Charts: neutral daily momentum studies, 21 day Bollinger bands track lower

  • 5, 10 & 21 daily, weekly and monthly moving averages all point south

  • Bearish trending setup targets 1.1413 March 2020 base longer-term

  • Close above 1.1650 10 day moving average needed to undermine downside bias

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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