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Feb 22 - 10:55 PM

GBP/USD - Weak Consumer Morale - Sterling Remains Resilient

By Andrew M Spencer  —  Feb 22 - 10:10 PM
  • +0.05% near the top of a 1.2650-1.2666 range with occasional interest on D3

  • UK consumer morale fell unexpectedly in February, GfK survey shows

  • UK government will be hoping that the upcoming budget will boost the morale

  • Charts; 5, 10 & 21-DMA's coil as the 21-day Bollinger bands contract

  • Positive daily momentum studies - the setup shows no significant bias

  • 1.2612 New York low and this week's 1.2579 base are initial supports

  • Thursday's 1.2710 high, then 1.2735 upper 21-day Bolli are first resistance

  • Close above the 1.2635 21-DMA targets 1.2735 upper 21-day Bollinger band

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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