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Aug 12 - 01:55 AM

GBP/USD - Negative Bias While 1.3905 Caps - Range Likely Rules

By Andrew M Spencer  —  Aug 11 - 11:36 PM

  • Steady trading in a very tight 1.3865-1.3872 range with occasional flow

  • Asia cautious ahead of the UK data dump, led by GDP, see chart for polls

  • Charts; mixed momentum studies, 5 & 10 daily moving averages edge lower

  • Bearish cross of the 5 and 10 daily moving averages - modest negative setup

  • Next significant support comes in at the 1.3769 200 daily moving average

  • Break of 1.3905 August daily trend line resistance would be bullish

  • London 1.3804 low and NY 1.3887 high initial support and resistance

  • Sterling likely to range trade during the summer season nL1N2PJ01D

    For more click on FXBUZ


UK data aug 12 Click here

gbp 4 aug 12 Click here

Source:
Refinitiv IFR Research/Market Commentary

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