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Feb 12 - 10:55 PM

GBP/USD - Soft Into UK Jobs And Then Key US Inflation

By Andrew M Spencer  —  Feb 12 - 10:05 PM
  • Trades -0.1% near the base of a 1.2620-1.2629 range with moderate D3 flow

  • UK employment leads GBP event risk RTRS poll 4% unemployed - last 4.2%

  • UK data will be followed by US inflation - key for Fed expectations/USD

  • Charts, 10 & 21-day moving averages, plus 21-day Bollinger bands fall

  • Daily momentum studies show conflicting signals - a net bearish bias remains

  • 1.2666 21 DMA is the first major resistance - close above would be positive

  • The 1.2607 low in NY and Thursday's 1.2572 base are initial supports

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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