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Dec 06 - 01:55 AM

GBP/USD - Bid With Risk Appetite, Data Remains Challenging

By Andrew M Spencer  —  Dec 05 - 10:20 PM

  • +0.15% with risk appetite better bid in Asia, =USD -0.1%, E-mini S&P +0.2%

  • Trades towards the top of a 1.2189-1.2220 range - moderate flow on D3

  • UK consumer spending fails to keep pace with inflation nL8N32V4GJ

  • No surprise on spending with current wage rises way behind inflation

  • Charts; flat daily momentum studies, 5, 10 & 21 day moving averages climb

  • 21 day Bollinger bands rise - positive setup while 1.1933 21 DMA holds

  • Next target for the uptrend is 1.2441, 61.8% of the 2022 fall

  • 1.2116 10 DMA, a base on the close for this move, is key support

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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