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May 27 - 01:55 AM

GBP/USD - Key Resistance Breaks - Next Stop 1.2727

By Andrew M Spencer  —  May 27 - 12:05 AM

  • +0.4% with USD weaker across the board, as aggressive Fed hike fears ease

  • Trades towards top of a 1.2607-1.2666 range, breaking May 1.2637 range top

  • Cable was busy on D3, but heavy EUR/GBP flow -0.1% a in 0.8496-0.8521 range

  • U.S. trade deal stalled, so UK deals with states, first Indiana nL5N2XI4OH

  • UK is working with 20 U.S. states to secure individual trade deals

  • Charts; momentum studies, 5, 10 & 21 day moving averages head higher

  • 21 day Bollinger bands expand - signals provide a solid positive setup

  • Break of 1.2637 May range high targets 1.2727, 50% of the 2022 fall

    For more click on FXBUZ


gbp 2 May 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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