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May 06 - 11:55 PM

GBP/USD - Strong Jobs, Bid Into The Raft Of Election Results

By Andrew M Spencer  —  May 06 - 11:28 PM

  • +0.1% at the top of a tight 1.3890-1.3906 range with consistent interest

  • UK jobs market hits full throttle as lockdown eases: KPMG/REC nL8N2MT53M

  • Jobs rebound fuelled by fast vaccine rollout, but still a long way to go

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

  • Cable trades in the middle of the resilient three week 1.3800-1.4020 range

  • Resistance above 1.4000 caps - range top in March/April - 61.8% 2021 fall

  • 1.3799 61.8% April bounce held on last Friday and Monday - now key support

  • Election results are the next event risk and will filter through in London


For more click on FXBUZ


gbp 2 may 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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