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May 03 - 09:55 PM

GBP/USD - 1.3800-1.4020 Range To Hold Into The BoE Thursday

By Andrew M Spencer  —  May 03 - 07:50 PM

  • -0.05%, after closing up 0.65% with the softer USD and UK holiday liquidity

  • UK, India announce $1.4BN investment boost, close to trade deal nL1N2MQ143

  • Techs; momentum studies crest, 5, 10 & 21 daily moving averages conflict

  • Neutral setup suggests a period of range trading into the BoE Thursday

  • Resistance above 1.4000 - range top in Feb/March - 61.8% 2021 fall, caps

  • 1.3799 61.8% April bounce held on Friday and Monday - now key range support

  • Late Asian 1.3803 low and NY 1.3931 high initial support resistance


    For more click on FXBUZ


gbp may 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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