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Mar 01 - 08:55 PM

GBP/USD - Cautious BoE Comments Make Upcoming Data Pivotal

By Andrew M Spencer  —  Mar 01 - 06:35 PM

  • Steady after closing up just 0.05%, capped by Dovish BoE Bailey comments

  • UK rate moves will be data driven, making upcoming economic statistics key

  • Britain's 'City' minister to attempt EU financial relations reset in Berlin

  • Success of Sunak's Windsor Framework will determine outcome of finance talks

  • Charts - 5, 10 & 21 day moving averages coil, momentum studies flat line

  • 21 day Bollinger bands contract - signals suggest further consolidation

  • 1.2060 21 DMA tested 3 times, but held in February - close above positive

  • 1.1915 February low initial major support - 1.1842 2023 low is pivotal

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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