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Jan 22 - 11:55 PM

GBP/USD - Eases In Asia - Gov't To Free Up Infrastructure Rules

By Andrew Spencer  —  Jan 22 - 09:54 PM

• Off 0.15% in a 1.2302-1.2322 range - flurries of interest on FX Matching

• Low-key in Asia, as Trump concentrated on domestic issues - USD up 0.05%

• UK to tackle infrastructure 'blockers' by cutting legal challenge options

• Growth underpins policy - efficient planning rules key for implementation

• There is no tier-one UK data - risk appetite, USD, and Trump policies lead

• Charts - daily momentum studies rise, 21-day Bollinger bands edge lower

• 5, 10 & 21-DMAs conflict - weeklies remain bearish - negative setup remains

• Monday's 1.2160 low, then the 1.2100 2025 base are initial major supports

• A close above the 1.2368 21-DMA, which capped Wednesday, would be positive

Close above 1.2370 would target 1.2575/1.2616 range top in early 2025
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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