By Andrew M Spencer — Apr 22 - 07:55 PM
Steady after closing down 0.15% as markets bring forward the first BoE cut
August BOEWATCH cut fully priced at 28.14bp, up from 22.75 at Friday's close
Recent dovish BoE comments, expectations of a June ECB cut behind the move
PMIs in the UK and Europe today suggest a tight GBP trading range in Asia
5, 10 & 21-day and week moving averages fall, 21-day Bollinger bands expand
Daily and weekly momentum studies slip - charts retain the bearish bias
Signals target a test of the 1.2224, 0.786% October-March rise
Monday's 1.2391 top and then Friday's 1.2467 high are initial resistance
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary