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Feb 06 - 10:55 PM

GBP/USD - Offshore Bounce Extends - 1.2625/30 Pivotal

By Andrew M Spencer  —  Feb 06 - 10:10 PM
  • +0.1% near the top of a busy 1.2598-1.2613 D3 range, with the USD off 0.1%

  • UK living standards set to recover slowly, 2027 before the poor break even

  • NIESR - Politicians should invest in the economy not offer voters tax cuts

  • Charts; 5, 10 & 21 day moving averages, daily momentum studies track lower

  • 21-day Bollinger bands expand - daily signals show a bearish trending setup

  • This week's 1.2629 high and then the 1.2663 10 DMA are the first resistance

  • Close above this week's 1.2629 high would suggest a period of consolidation

  • 1.2598 Asian base, then yesterday's 1.2536 London low are initial supports

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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