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Jan 07 - 03:55 PM

GBP/USD - Dips Below 10-DMA By 1.3571, As Focus Shifts To BoE Rate Cut

By Paul Spirgel  —  Jan 07 - 01:37 PM
  • GBP/USD ending NY -0.37% at 1.3560; NorAm range 1.3612-1.3533

  • Early GBP gains reversed on broad USD buying amid stimulus expectations

  • Lockdowns, reduced UK growth outlook ramps up BoE neg rate view 0#FSS:

  • Sterling tests support but holds up better than other majors nL1N2JI1FU

  • Bulls losing vigor, cede control below 1.3447, 50% Fib of 1.3190-1.3703

  • Below 1.3447, daily cloud top by 1.3280 targeted then Dec 21 low by 1.3190

  • EUR/GBP ending NY -0.12% at 0.9046, Thurs range 0.9076-16; EUR/USD longs lighten abv 1.23

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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