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Sep 17 - 01:55 AM

GBP/USD - Top In Place, Mixed Signals Into BoE Next Week

By Andrew M Spencer  —  Sep 16 - 11:41 PM

  • Touch softer in a 1.3784-1.3798 range with only occasional interest

  • Difficult BoE rate decision Sep 23rd amid lower growth and high inflation

  • Two MPC new members and end of furlough adds to uncertainty nL8N2QI45G

  • Focus likely on forecasts and the tone of comments rather than policy change

  • Charts; momentum studies crest, 5, 10 & 21 DMAs coil - neutral setup

  • Tested 1.3900 Tuesday and retreated hard - suggests major 1.3910 resistance

  • 1.3757, 50% of August-September rise and 1.3727 Sep low are initial support

  • 1.3765 NY low and London 1.3841 high are initial support and resistance

For more click on FXBUZ


gbp 2 Sep 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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