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Jan 14 - 11:55 PM

GBP/USD - Heavy Into UK Inflation Data - Key For Gilts/Outlook

By Andrew Spencer  —  Jan 14 - 09:53 PM

• Trades off 0.15% at the base of a quiet 1.2196-1.2213 range on FX Matching

• UK business morale sank to a 2-year low in late 2024 - accountants say

• Most business surveys agree the budget hit sentiment and the outlook hard

• Today's CPI inflation data will key for gilt yields and the economic outlook

• Charts - mixed daily momentum studies, 21-day Bollinger bands head lower

• 5, 10 & 21-DMAs slide - weeklies remain bearish - a strong negative setup

• Targets a test of the 1.2038 Oct 2023 low, then the 1.1805 2023 low in March

• Friday's 1.2322 high, then the resilient 1.2440 21 DMA are first resistance

• A close above the 1.2440 21-DMA would be a positive signal
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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