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Jul 22 - 05:55 AM

GBP/USD's Recovery Has Bite And Technical Support

By Peter Stoneham  —  Jul 22 - 03:54 AM
  • Impressive rebound out of Tues 1.3573 low: low point since Feb 4

  • Broader market sentiment wind change cited but could be brief

  • England caught in a vaccine, Delta, freedom cross fire nL1N2OV08P

  • Technical support might offer a buffer to further pandemic doubts

  • Price clear above 200DMA, 1.3707, and bid is holding

  • Close above 1.3734 Jul 2 low to open up s/t trend res. at 1.3870

  • UK CBI July trends data 10:00GMT: softer return expected, 16 vs 19

    For more click on FXBUZ






GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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