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Feb 04 - 08:55 PM

GBP/USD - 1.3650/1.3750 Range, As The Bank Of England Surprises

By Andrew M Spencer  —  Feb 04 - 07:15 PM
  • Flat, closed +0.2%, EUR/GBP -0.8%, BoE optimistic on 2022 growthnL1N2KA0T6

  • No negative rates short term, or longer term if growth forecasts correct

  • Charts; 5, 10 & 21 daily moving averages conflict, momentum studies slip

  • Neutral setup suggests further choppy consolidation, no trend evident

  • Rebound off 1.3569 61.8% 2021 rise makes this the key support level

  • 1.3759 2021 range high in January and February is pivotal resistance

  • NY afternoon 1.3651 low and NY 1.3698 high initial support-resistance

    For more click on FXBUZ

gbp feb 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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