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Jun 16 - 01:55 AM

GBP/USD - Firmer, Driven By Buoyant Risk - Potential Range

By Andrew M Spencer  —  Jun 15 - 11:45 PM
  • Up 0.4% USD led with buoyant risk - E-mini S&P +1.5%, Nikkei +3.3%

  • Trump preparing $1 trln infrastructure plan to spur economy nFWN2DS125

  • Trades towards the top of a 1.2599-1.2672 range with decent volume

  • Charts; momentum studies flat line, 5, 10 & 20 DMA's conflict

  • Neutral setup supports GBP entering a period of choppy consolidation

  • 1.2443, 50% May-June rise and 1.2812 June high are viable range parameters

  • A sustained break of the range would likely be directional

  • 1.2599 early low and 1.2692 200 DMA initial support-resistance

GBP 2 jun 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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