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Jan 02 - 01:55 AM

GBP/USD - Begins 2024 With The Uptrend In Play

By Andrew M Spencer  —  Jan 01 - 10:05 PM
  • Off 0.1% at the base of a 1.2716-1.2735 range - strong volume early on D3

  • The U.S. dollar trades up 0.1%, led by yen weakness - USD/JPY +0.5%

  • S&P GLBL/CIPS December Manufacturing data, poll 46.4 leads UK data risk

  • Charts; last week's 1.2825 December high sustained the topside bias

  • 5, 10, and 21-day moving averages plus 21-day Bollinger bands edge higher

  • Mixed daily momentum studies - daily signals remain net supportive

  • 1.2883, 76.4% July/October fall is the next significant resistance

  • Friday's 1.2702 London low and the Dec 21 1.2613 low are initial supports

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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