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Aug 18 - 01:55 AM

GBP/USD - Tight Ranges But Busy, As Dust Settles On 10.1% CPI

By Andrew M Spencer  —  Aug 17 - 11:55 PM

  • Steady in a 1.2040-1.2055 range with occasional decent flow on D3

  • EUR/GBP trades at the base of a tight 0.8448-0.8459 with heavy D3 flow

  • As 10.1% CPI sinks in, Truss to focus on Brexit divorce nL8N2ZT3M8

  • No UK data or Bank of England events, so the U.S. dollar will likely lead

  • Charts - daily momentum studies, 5, 10 & 21 day moving averages conflict

  • 21 day Bollinger bands contract - setup suggests choppy consolidation

  • 1.2004 August low then 1.1963, 61.8% July-August rise key supports

  • This week's 1.2149 high then 1.2174, 61.8% mid Aug fall potential range top

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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