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Refinitiv
Jul 02 - 09:55 PM

GBP/USD - Mixed Data, But Sterling Remains Resilient

By Andrew M Spencer  —  Jul 02 - 07:25 PM
  • Flat early - closed -0.06%, after stalling at 1.2532, 50% June fall

  • GfK consumer confidence strongest since start of COVID lockdown nS8N2DA01F

  • UK factories increasingly plan lay-offs, survey shows nL4N2E92VW

  • Techs; positive momentum studies, 5, 10 & 21 DMAs conflict - neutral setup

  • Bounce leaves the price in familiar territory - suggests consolidation

  • 1.2515 21 DMA and 1.2532 50% of the June fall capped, now pivotal resistance

  • 1.2458 NY low and 1.2424/29 5 & 10 DMAs are initial support

gbp jul 3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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