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May 29 - 09:55 PM

GBP/USD - Soft Manufacturing Data, As The Uptrend Falters

By Andrew M Spencer  —  May 29 - 08:20 PM
  • -0.05% - closed -0.5% with the USD +0.5% despite narrowing yield spreads

  • 10yr gilt +11bp to 4.398%, 10yr UST +8bp 4.624% amid rate cut uncertainty

  • UK car production fell 7% year-on-year in April - down for a second month

  • The next government will have a massive agenda to revitalise the economy

  • Charts; daily momentum studies crest - 5, 10 & 21 DMAs edge higher

  • 21-day Bollinger bands climb - a positive trending setup remains

  • The close below the 1.2720 10-day moving average was a warning to longs

  • A stained break of the rising 1.2638 21-day moving average would be bearish

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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