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Sep 16 - 01:55 AM

GBP/USD - Heavy Above The 2022 1.1407 Low - Negative Charts

By Andrew M Spencer  —  Sep 16 - 12:00 AM

  • Off 0.1% in a 1.1452-1.1478 range - occasional flow flurries on D3

  • Retail sales is event risk in London - poll -0.5% m/m -4.2% y/y

  • Techs: daily momentum studies conflict, 21 day Bollinger bands edge lower

  • 5, 10 & 21 day moving averages head south - negative setup

  • Tuesday's failure at the 21 day moving average, now at 1.1626 was bearish

  • Signals suggest a test of the key September and 2022 low at 1.1407

  • Close above 1.1626 falling 21 day moving average would be a bullish signal

  • BoE rate decision Thursday is key event risk - 50bp hike priced nL1N30G0QG

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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