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Aug 03 - 01:55 AM

GBP/USD - Firmer With Risk Appetite As USD And UST Yields Ease

By Andrew M Spencer  —  Aug 03 - 12:00 AM

  • +0.2% near the top of a 1.2137-1.2185 range with moderate interest

  • Asian markets firm, E-mini S&P +0.2%, UST yields and the USD eased

  • Modest risk on as China response to Taiwan mostly verbal so far nL1N2ZE2LI

  • NIESR warns millions will join breadline in recession-hit UK nL8N2ZE5SL

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

  • 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 1.2121 10 day moving average needed to end topside bias

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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