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Apr 21 - 09:55 PM

GBP/USD - Steady, Though Data Supports BoE's Cautious Stance

By Andrew M Spencer  —  Apr 21 - 07:40 PM

  • Steady after closing off 0.3%, amid broad based hawkish Fed led USD strength

  • British consumer morale plunged near all-time low in April: GfK nL5N2WJ5AJ

  • Data underpins Thursday's cautious BoE Gov Bailey's comments nL5N2WJ74Y

  • Charts, positive momentum studies, 5, 10 & 21 day moving averages edge lower

  • 21 day Bollinger bands contract - modest negative bias survives

  • Close above 1.3073 21 day moving average would be a bullish signal

  • Wednesday's 1.2995 low and last week's 1.2973 2022 base first supports

  • 1.3167-1.3174 is major resistance, April high and 61.8% March-April fall

For more click on FXBUZ


gbp Apr 22 Click here

Source:
Refinitiv IFR Research/Market Commentary

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