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Apr 05 - 01:55 AM

GBP/USD - Lower With Risk Appetite Into Key US Payrolls

By Andrew M Spencer  —  Apr 04 - 11:10 PM
  • Off 0.15% at the base of a 1.2622-1.2648 range, with the U.S. dollar up 0.1%

  • Risk off, as the Nikkei -2.4% leads local stocks lower, CMCU copper -1.55%

  • Major currency moves unlikely ahead of the often volatile U.S. payrolls

  • Techs; 5, 10 & 21-day moving averages coil while 21-day Bollinger bands slip

  • Momentum studies are neutral, as the 1.2500/1.2900 2024 range extends

  • A close above 1.2675 38.2% Mar/Apr fall, tested Thursday, would be positive

  • 1.2501 Dec base, 1.2517 2024 low, and 1.2536 Feb 14 base are strong support

  • 1.2619 21 DMA and Asia's 1.2648 high are the first support and resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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