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Dec 14 - 10:55 PM

GBP/USD - Gently Bid Into UK Inflation Data, Trend Is Lower

By Andrew M Spencer  —  Dec 14 - 10:10 PM

  • +0.05% in a very tight 1.3226-1.3235 range with only occasional interest

  • 67% of Britons expect BoE rate rise by June 2022 - HIS Markit nL8N2SZ5Y8

  • UK inflation will be significant for BoE - see chart for RTRS polls

  • Charts; 5, 10 & 21 day moving averages, 21 day Bollinger bands head lower

  • Bearish setup targets a break of 1.3166, 38.2% of the 2020-2021 rise

  • 1.3160 break brings 1.2830-50 - 50% 2020-21 rise, Oct-Nov 2020 low into play

  • Close above 1.3308 falling 21 day moving average needed to end downtrend

  • Bank of England to remain on hold Thursday - sterling remains vulnerable

For more click on FXBUZ


gbp 2 dec 15 Click here

ukd dec 15 Click here

Source:
Refinitiv IFR Research/Market Commentary

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