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Aug 04 - 08:55 PM

GBP/USD - Positive Signals Hang In Ahead Of The BoE Decision

By Andrew M Spencer  —  Aug 04 - 07:25 PM

  • Steady after closing down 0.2% - USD firmed as Wall Street eased

  • BoE set to keep stimulus pumping despite inflation rebound nL8N2PB6M5

  • Market will be looking for clues on how the stimulus will be unwound

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

  • Net bullish setup, but topside progress needed soon to sustain signals

  • 1.3878 10 DMA is initial support - 1.3830 21 DMA is the pivotal level

  • 1.3991 61.8% June-July fall and 1.4000 upper 21 day Bollinger cap at present

  • Break would bring 1.4090 76.4% retracement of June-July fall into play

For more click on FXBUZ


gbp aug 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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