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Jun 03 - 09:55 PM

GBP/USD - Transport Investment, Cautious BoE, US Tariffs Lead

By Andrew Spencer  —  Jun 03 - 08:17 PM

• Steady after closing off 0.25%, resilient to a 0.7% U.S. dollar bounce

• UK Fin Min Reeves okays GBP 15.6 bln of transport projects outside London

• BoE Gov Bailey sticks with 'careful' rate cut view as uncertainty deepens

• US steel, aluminium imports from UK to remain at 25% vs 50% from elsewhere

• Charts- 5, 10, & 21-day moving averages rise with neutral momentum studies

• 21-day Bollinger bands expand - the daily signals suggest further gains

• Last week's 1.3593 2025 top, then 1.3749 2022 high are initial resistance

• Monday's 1.3457 low and last week's pivotal 1.3417 base are first supports
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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