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Sep 14 - 01:55 PM

GBP/USD - Bulls Run Into Resistance Ahead Of Its 100-Day Avg By 1.3916

By Paul Spirgel  —  Sep 14 - 01:23 PM
  • GBP/USD ending NorAm flat at 1.3839; NorAm range 1.3913-1.3840

  • Pair whipsawed after soft U.S. CPI hit expectations for Fed taper

  • USD bid on haven flows as transitory US inflation may temper glbl growth

  • Sterling eyes daily cloud top resistance after soft US CPI nL1N2QG199

  • GBP/USD offered by falling daily cloud top at 1.3911, 100-DMA by 1.3916

  • Further res 1.3939 the upper 30-d Bolli & late Jul's dbl top by 1.3984

  • Support at 200-DMA by 1.3829 and 30-DMA by 1.3797

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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