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Jun 29 - 09:55 PM

GBP/USD - Upbeat Business Confidence Supports Sterling's Rise

By Andrew Spencer  —  Jun 29 - 08:22 PM

• Up 0.05% after closing off just 0.05% with the U.S. dollar down 0.1%

• UK business confidence levels hit highest since 2015 - Lloyds Bank

• 60% of firms polled expect higher staffing levels in the coming year

• UK's financial regulator said it will ease rules on investment advice

• Charts - 5, 10, & 21-day moving averages climb, positive momentum studies

• 21-day Bollinger bands expand - daily signals retain a topside trending bias

• Thursday's 1.3770 top, then the distant 1.4250 2021 peak, initial resistance

• Wednesday's 1.3591 low, then 1.3562/73 21 & 10 DMAs are initial support

• Weekly charts track higher after a bullish outside week
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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