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Dec 21 - 04:55 PM

GBP/USD - Gets Leg Up As Omicron Angst Ebbs, But May Flow Again

By Randolph Donney  —  Dec 21 - 02:35 PM

  • GBP/USD gained 0.39% as stocks rebounded from Omicron beatings

  • Pound also help by UK's GBP 1 bln pandemic support nL9N2RR01U

  • Covering of frustrated spec shorts after key Fibo held by Dec lows

  • Pair now faces tenkan and kijun hurdles at 1.3274/338 nL1N2T61AM

  • PM says no lockdown pre-Christmas, but afterward? nL1N2T61AM

  • FDA approval of Covid-19 treatments could lift risk nL4N2T62TB, pound

  • Daily range above the 1.3338 kijun major hurdle ahead of 1.3379 Fibo

  • 2020-21 Fibos by Dec's 1.31615 lows is main gateway to major breakdown

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Source:
Refinitiv IFR Research/Market Commentary

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