Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Jan 16 - 08:55 PM

GBP/USD - Market Stress Eases With Gilts - 1.2413 Topside Pivot

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

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2025 eFXdata · All Rights Reserved
!