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Feb 25 - 07:55 PM

GBP/USD - Remains Resilient, As Early Rate Cut Hopes Fade

By Andrew M Spencer  —  Feb 25 - 06:20 PM
  • Steady after closing up 0.1% - resilient with the USD up 0.05%

  • Most UK exporters hit by Houthi-led Red Sea disruption, survey shows

  • Likely an issue for many countries - will put upward pressure on inflation

  • Charts; 5, 10 & 21-DMA's coil as the 21-day Bollinger bands contract

  • Daily momentum studies flat line - the setup shows no significant bias

  • London's 1.2649 low then Thursday's 1.2612 base are initial supports

  • Last week's 1.2710 high, then 1.2731 upper 21-day Bolli are first resistance

  • Thursday's close above 1.2634 21-DMA targets 1.2731 upper 21-day Bolli band

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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