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Aug 26 - 09:55 PM

GBP/USD - Uptrend In Play - Good Inflation News For The BoE

By Andrew M Spencer  —  Aug 26 - 08:10 PM
  • +0.05% after closing off 0.2%, as the USD bounced with UST yields

  • UK shop prices fell 0.3% in August - the first fall in nearly 3 years

  • Data will be good news for BoE inflation expectations, potential rate cuts

  • PM Starmer - changing the economy will take time - no short-term fix

  • TECHs - positive daily and weekly 5, 10 & 21 moving averages

  • 21-day Bollinger bands expand with mixed momentum studies - bullish setup

  • The uptrend targets a test of 1.3410, 0.786% of the 2021-2022 fall

  • Close below the 1.3042 10-day moving average would be a concern for bulls

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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