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Morning Briefing Pound (1.2984) is in an interesting position as the trend remains up but the upward momentum is still lacking. The chances of a sudden sharp rise to 1.3200 can’t be ruled out while the probability of further sideways consolidation in the range of 1.2850-1.3050 remains in consideration too. Wait for clarity but no bearish scenario can be considered while above 1.2850.
The UK-US (-1.16%) has come off slightly but the previous resistance could now act as an important support which could possibly indicate an upside for the yield spread in the medium term. If that happens, we could turn bullish for Pound in the longer run.
Last Updated Open High Low Close
23-May-17 1.3007 1.3043 1.2953 1.2989
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1 Comments


Ramesh seervi
MAY 19, 2017 AT 3:02 PM

Good follow....