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Sep 01 - 01:55 AM

GBP/USD - Fresh Trend High As The USD Is Hit Across The Board

By Andrew M Spencer  —  Aug 31 - 11:35 PM
  • Trades +0.3%, fresh trend high, toward top of a busy 1.3359-1.3413 range

  • China data suggests that the U.S. return to growth may lag Asia nL4N2FY0E6

  • Sterling remains bid, as sentiment towards the USD sours nL4N2FY0CA

  • Techs - momentum studies, 5, 10 & 21 DMAs head north - positive setup

  • 21 day Bollinger bands expand, which often happens in a trending market

  • 1.3368 upper band suggests overbought short term, but the bias is higher

  • Targets a test of the 1.3516 2019 high - next significant resistance

  • Sustained break of 1.3152 21 DMA would end the downside bias

  • For more click on FXBUZ

gbp 3 sep 1 Click here

Source:
Refinitiv IFR Research/Market Commentary

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