The Sterling bounced off lows in line with general USD weakness but the economic data continued to show a weakening economy. Looking ahead, Bank of England inflation attitudes survey is released.
Tech View:
GBP is expected to be on mixed note for the day. With the Trading range of 1.9380-1.9530 support for the currency is seen at 1.9350 levels and holds resistance at 1.9550 levels. levels. Momentum trends downwards supported by MACD. Stochastic is seen flat and the currency has tested the lower Bollingers so slight correction upwards is possible.
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