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May 21 - 12:12 AM

GBP/USD - Resilient With Risk, Going Into Inflation Data

By Andrew M Spencer  —  May 20 - 12:10 AM
  • +0.1% in a 1.2241-1.2277 range with only occasional interest

  • 1 in 3 UK firms can fully reopen following COVID rules - BCC nL8N2D13UC

  • Charts; momentum studies conflict, 10 & 21 DMAs slip - net negative setup

  • Close above 1.2292, 38.2% April-May fall would end the downside bias

  • Sustained break of 1.2349-59, 21 DMA and 50% April May dip would be bullish

  • Earlier 1.2241 low then yesterday's 1.2185 low first supports

  • 1.2296 NY high then 1.2349 21 DMA are initial resistance

  • Inflation is event risk in London - see chart for polls


























ukd may 20 Click here

gbp 2 may 20 Click here

Source:
Refinitiv IFR Research/Market Commentary

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