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Sep 22 - 09:55 PM

GBP/USD - Heavy After More Soft Data, Into Major Policy News

By Andrew M Spencer  —  Sep 22 - 07:55 PM

  • -0.05% early after closing -0.1% in a choppy session, as BoE hiked 50pt

  • Fin Min Kwarteng to announce expensive policies to spur growth nL8N30T5LM

  • Impact of these policies to drive inflationary expectations and yields

  • UK consumer mood sinks to new depths despite energy bills help nL8N30T287

  • Techs: daily momentum studies flat line, 21 day Bollinger bands head lower

  • 5, 10 & 21 day, week and month moving averages track south - negative setup

  • Close above falling 1.1507 21 DMA needed to undermine the downside bias

  • Thursday's 1.1213 trend low then psychological 1.1000 level next support

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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