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Jan 09 - 10:55 PM

GBP/USD - Steady Into BoE Gov Bailey's Treasury Committee Talks

By Andrew M Spencer  —  Jan 09 - 10:05 PM
  • -0.05% in a 1.2705-1.2718 range, as flow built after a quiet morning

  • Venture capital investment in UK firms is still below the pandemic-era peak

  • No major UK data, but BOE Gov Bailey speaks to the Treasury Select Committee

  • Charts; momentum studies flat line - 5, 10, and 21-day moving averages coil

  • 21-day Bollinger bands contract - signals show no strong technical bias

  • Well-tested December/January range base around 1.2610 is key support

  • 1.2771 2024 high and then 1.2825 December high likely resilient resistance

  • Fading the 4-week 1.2600-1.2825 range with tight stops should provide value

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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