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Sep 23 - 09:55 PM

GBP/USD - BoE Surprised - Close Key For Next Week

By Andrew M Spencer  —  Sep 23 - 07:55 PM

  • Steady after closing up 0.75% with a softer USD and hawkish BoE nL8N2QP2YG

  • UK consumer morale wilts under cost-of-living crisis: GfK nL8N2QP2DO

  • As the furlough scheme ends, it could be a difficult winter for many

  • Charts; momentum studies, 5, 10 & 21 day moving averages conflict

  • 21 day Bollinger bands contract - bearish bias while 1.3771 21 DMA holds

  • 1.3602 August low held this week, leaving a double bottom above 1.3600

  • Close above 1.3771 21 DMA would target the 1.3902 upper 21 day Bolli band

  • 1.3696, 38.2% of this week's bounce first support - NY 1.3750 top resistance

For more click on FXBUZ


gbp Sep 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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