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Aug 06 - 01:55 AM

GBP/USD - Early Wages Pressure - Charts Point Higher

By Andrew M Spencer  —  Aug 05 - 11:41 PM

  • -0.05% with the USD a shade firmer in a low key 1.3915-1.3932 range

  • Record UK starting salaries as jobs squeeze tightens - REC nL8N2PC7IN

  • Decision for the BoE - is this the start of a sustained wages rise?

  • Charts; 5, 10 & 21 daily moving averages climb - momentum studies base-rise

  • Positive signals - bias remains higher while 1.3838 21 DMA holds

  • 1.3991 61.8% June-July fall and 1.4015 upper 21 day Bolli pivotal resistance

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

  • 1.3899 NY low and 10 DMA and 1.3932 Asian top first support resistance

For more click on FXBUZ


gbp 2 aug 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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