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Jan 24 - 12:12 AM

GBP/USD - Expect Choppy Consolidation Into March EU Negotiations

By Andrew M Spencer  —  Jan 23 - 10:10 PM

  • Flat in a tight 1.3113/1.1329 range with consistent interest

  • Low key Asian FX session - winding down into Chinese New Year

  • Diplomats cannot rule out a hard Brexit in the tight timetable nL8N29S59W

  • Expect choppy consolidation into EU negotiations to start in March

  • Charts show momentum studies, 5, 10 & 21 DMAs edging higher, positive setup

  • 1.3158 break, 61.8% Jan/Dec fall would be a strong signal for next week

  • 1.3096-98 21 DMA and NY low and this week's 1.3153 high support-resistance

  • 1.3100 372M and 1.3150 360M are the close strikes


gbp2 jan 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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