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Dec 20 - 09:55 PM

GBP/USD - Uptrend Survives, But Economic Outlook Weighs

By Andrew M Spencer  —  Dec 20 - 06:55 PM

  • Steady after closing up 0.35%, supported by the weaker U.S. dollar

  • Industrial unrest continues - NHS workers strike over pay nL1N33A0LF

  • Cost of living crises to hit living standards and the economy nL8N32S27L

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

  • 21 day Bolli bands contract - uptrend stalled needs topside progress soon

  • Close below resilient 1.2177 21 DMA bearish for 1.1634 38.2% Sep/Dec bounce

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

  • NY 1.2098 low and 1.2219 Asian high Tuesday initial support/resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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