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Feb 25 - 11:55 PM

GBP/USD - Early Losses Recovered, Busy As U.S. Yields Retreat

By Andrew M Spencer  —  Feb 25 - 10:08 PM
  • Flat, towards the top of a busy 1.3950-1.4016 range - USD led in Asia

  • USD initially bid as UST yields extended gains, but 10yr UST now -5bp 1.474%

  • Car sector seeks more UK government support as output tumbles nL8N2KV56O

  • Brexit teething supply issues and switch to electric cars a real challenge

  • Charts; 5, 10 & 21 daily weekly and monthly moving averages trend north

  • Targets 1.4303, 50% 2014-2020 fall, then the 1.4377 2018 high

  • Close below 1.3999 rising 10 DMA needed to undermine the topside bias

  • Soft close would suggest cable uptrend is in a consolidation phase

    For more click on FXBUZ

gbp 2 feb 26 Click here

Source:
Refinitiv IFR Research/Market Commentary

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