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Dec 15 - 08:55 PM

GBP/USD - Firmer After Weak Data Hit Friday, BoE To Stay On Hold

By Andrew M Spencer  —  Dec 15 - 06:50 PM
  • +0.15% with the USD -0.05%, after closing -0.4% Friday as soft data capped

  • Friday's UK data dump showed the economy weakening as most components missed

  • Despite the data markets expect no BoE change this week GBPIRPR 4.75% 87.24%

  • Charts - daily momentum studies crest/fall, 21-day Bollinger bands flat line

  • 5, 10 & 21-DMAs ease - a modest negative daily bias, weeklies head lower

  • Thursday's bearish outside day was confirmed by Friday's fall

  • Friday's 1.2607 low, then the 1.2475 November trend low initial supports

  • Dec 6 1.2810 recovery top then 1.2839, 0.382% Sep/Nov fall major resistance

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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