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May 15 - 12:12 AM

GBP/USD - Range Base Comes Into Focus - Pivotal Levels

By Andrew M Spencer  —  May 14 - 12:05 AM
  • Off 0.2% - USD firms a shade, as Asian stocks follow lower Wall Street

  • Trades towards the base of a 1.2204-1.2241 range with only moderate flow

  • UK plans to cut tariffs on U.S. agricultural imports - FT nL4N2CW0XQ

  • Potentially controversial move for farmers and green sympathisers

  • UK surveyors expect price falls when housing market reopens nL9N24P009

  • Charts; momentum studies, 5, 10 & 21 DMAs slip - modest negative setup

  • Tracks falling 1.2205 lower 21 day Bolli band - a base this week

  • 1.2166-76, April low and 38.2% March-April rise is pivotal support



gbp 3 may 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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