By Andrew M Spencer — Aug 04 - 08:15 PM
Steady, closed +0.1% in a choppy offshore session in response to the BoE
A 50pt hike, with a dour economic outlook from BoE contained nL8N2ZG4J4
Liz Truss, likely next UK PM to outline economic plans today nL8N2ZG7IR
Truss is talking to the 200k conservative party voters, so policy may change
Charts - daily momentum studies conflict - 10 & 21 DMAs head higher
21 day Bollinger bands expand - on balance the bias remains higher
1.2320, 61.8% of the May-July fall is initial significant resistance
Close below 1.2039 21 day moving average needed to end topside bias
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Source:
Refinitiv IFR Research/Market Commentary