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Dec 19 - 11:55 PM

GBP/USD - Jumps As Yen Leads USD Lower Post-BOJ

By Andrew M Spencer  —  Dec 19 - 10:20 PM

  • +0.5% near the top of a 1.2142-1.2219 range, with USD/JPY -1.9% post BoJ

  • No sterling related news in Asia, or significant scheduled UK data today

  • Expecting risk appetite and the USD to lead sterling moves offshore

  • Techs; daily momentum studies, 5, 10 & 21 day moving averages conflict

  • 21 day Bolli bands contract - uptrend losing momentum, needs progress soon

  • Close below resilient 1.2161 21 DMA bearish for 1.1634 38.2% Sep/Dec bounce

  • Well tested 1.2441, 61.8% of 2022 fall capped - remains pivotal resistance

  • Asian 1.2142 low and London 1.2241 high initial support/resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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