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Dec 24 - 04:55 AM

GBP/USD - Minimum Correction Risk Amid Thin Conditions

By Peter Stoneham  —  Dec 24 - 02:40 AM
  • Likely Dec 24 market to limit sterling activity but risk of a pullback

  • Price currently holding close to its one-month 1.3437 high from Thursday

  • If a pullback sets in 1.3372 is the minimum correction off 1.3162-1.3437

  • Risk currencies, including the pound, are maintaining gains vs the dollar

  • Optimism surrounding the impact of Omicron cited nL4N2T81LXnL1N2T70CU

  • Frothy gilt yields also in the mix: factoring BoE 2022 rate hike outlook

  • GBP/USD bull target 1.3498, 50% Fibo off 1.3834-1.3162 Oct-Dec drop

    For more click on FXBUZ







GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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