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Jan 30 - 11:00 PM

GBP/USD - Strong Sentiment Data, What Won't Go Down Can Go Up

By Andrew M Spencer  —  Jan 30 - 10:00 PM
  • +0.1% in a 1.3085-1.3106 range, EUR/GBP +0.1%, busy once Asia fully opened

  • UK consumer morale after landslide election at 16 month high nL9N28D030

  • Britain sets sail for open waters after exiting the EU nL8N29Z894

  • Close above 1.3110 to validate bullish outside day - potential positive

  • Charts, momentum studies flat line, 5, 10 & 21 DMAs coil - neutral setup

  • Tightening 1.2974-1.3160 21 day Bolli bands suggest a breakout is coming

  • GBP resilient below 1.3000 in Jan, perhaps time to try topside in Feb

  • 1.3160-80, upper 21 Day Bolli band and Jan 24 high initial resistance

gbp 2 jan 31 Click here

Source:
Refinitiv IFR Research/Market Commentary

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