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Feb 09 - 08:55 PM

GBP/USD - Bid Despite BoE Showing Little Consensus

By Andrew M Spencer  —  Feb 09 - 07:00 PM

  • Steady after closing up 0.35%, supported by hawkish Swedish central bank

  • BoE policy makers showed little consensus on the interest rate outlook

  • The disparity in BOE expectations illustrates the current uncertainty

  • Meanwhile UK's FTSE 100 hit another record high on strong earnings

  • Charts; 10 & 21 day moving averages head lower, 21 day Bolli bands expand

  • Momentum studies conflict, net bearish setup, despite Thursday's bounce

  • 1.1984, 76.4% 2023 rise held on the close this week - resilient support

  • 1.2193 NY high then 1.2197 10 day moving average are initial resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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