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Aug 02 - 09:55 PM

GBP/USD - Victim U.S. Dollar Strength, But Signals Support

By Andrew M Spencer  —  Aug 02 - 07:45 PM

  • Off 0.05% after closing down 0.8%, amid broad based U.S. dollar strength

  • Millions will join breadline in recession-hit UK, NIESR warns nL8N2ZE5SL

  • UK voters feel cost of living crisis should be the key issue for next PM

  • Dip leaves conflicting daily momentum studies - 5, 10 & 21 DMAs base or rise

  • 21 day Bollinger bands expand - on balance still a positive setup

  • 1.2320, 61.8% of the May-July fall is initial significant resistance

  • Close below 1.2119 10 day moving average needed to end topside bias

  • 1.2151, 61.8% Friday-Monday bounce and NY 1.2240 top first key levels

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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