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May 17 - 09:55 PM

GBP/USD - Resilient With A Test Of The 2021 High Viable

By Andrew M Spencer  —  May 17 - 07:47 PM

  • Steady after rising 0.3% - buoyant mood as lockdowns ease nL5N2N45JK

  • UK risks Italy-style decline as economic challenges mount nL5N2N42I7

  • Think tank makes interesting points - productivity is key to prosperity

  • Charts; bounce leaves rising 10 & 21 DMAs, while 21 day Bolli's expand

  • Positive setup targets a test of the 1.4240 2021 high longer term

  • Bias is higher while 1.3972 rising 21 daily moving average holds

  • NY 1.4078 1.4146 range is initial support and resistance

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gbp may 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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