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Jul 27 - 08:55 PM

GBP/USD - Resilient As The USD Slides, 1.2213 Key Resistance

By Andrew M Spencer  —  Jul 27 - 07:55 PM

  • +0.05% after closing up 1% as the USD fell with UST yields post FOMC

  • Strong UK car production data as supply chain issues ease nB8N2TT02P

  • Weak outlook for UK commercial real estate - RICS nL8N2Z8589

  • Mixed data and political uncertainty, but sterling remains resilient

  • Charts; daily momentum studies 5, 10 & 21 DMAs base or rise

  • 21 day Bollinger bands gently expand - modest positive setup

  • Close above 1.2213, 50% of May/July fall would be bullish


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Source:
Refinitiv IFR Research/Market Commentary

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