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May 20 - 12:12 AM

GBP/USD - Higher Levels Sustained Into UK Jobs Data

By Andrew M Spencer  —  May 19 - 12:05 AM
  • Off 0.1% with the USD a touch firmer on profit taking-bargain hunting

  • Trades towards the base of a 1.2185-1.2222 range - interest all day

  • UK jobs lead data with the unemployment rate expected at 4.4% - see chart

  • Charts; despite Monday's bounce momentum studies, 5, 10 & 21 DMAs slip

  • Negative setup - close above 1.2266 10 DMA needed to undermine downside bias

  • 1.2031, 50% of March-April rise, then 1.1885 61.8% first significant support

  • Early London 1.2092 low and today's Asian 1.222 high support/resistance

  • 1.2050 333M, 1.2200 231M and 1.2300 430M are today's strikes




UKD may 19 Click here

GBP2 may 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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