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Dec 16 - 08:55 PM

GBP/USD - Omicron Rages, But A 1.3400 Test Beckons Short Term

By Andrew M Spencer  —  Dec 16 - 06:37 PM

  • +0.05%, extending Thursdays 0.45% gain, after the BoE hiked nL1N2T10MH

  • COVID-19 cases hit record high in Britain for second day nL8N2T140H

  • Omicron surge dominates UK press - antiviral pills may be key nL1N2T125X

  • Crucial market question is will COVID-19 surge hit the economy in 2022

  • Techs; 5, 10 & 21 day moving averages conflict, 21 day Bolli bands contract

  • Neutral setup, but the close above 1.3293 21 DMA targets 1.3418 upper Bolli

  • Well tested 1.3166, 38.2% of the 2020-2021 rise remains pivotal support

  • London 1.3259 low and NY 1.3375 high are initial support and resistance

    For more click on FXBUZ


gbp dec 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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