By Andrew Spencer — Jan 16 - 06:56 PM
• -0.05% after closing off 0.05% with the USD down 0.1%, and GBP/JPY off 0.9%
• UK inflation slowed, 10yr gilt fell 6bp 4.677%, and off 16 bp this week
• Thursday's inflation data, price-action will be welcomed by Fin Min Reeves
• UK retail sales will be closely watched in London - RTRS poll +0.4% m/m
• Charts - daily momentum studies conflict, 21-day Bollinger bands head lower
• 5, 10 & 21-DMAs slide - weeklies remain bearish - a strong negative setup
• Targets a test of this week's 1.2100 low then the 1.2038 Oct 2023 low
• Last Friday's 1.2322 high, then the key 1.2413 21 DMA are first resistance
• A close above the 1.2413 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