By Andrew Spencer — Jan 23 - 07:11 PM
• Flat after closing up 0.2% - resilient with the U.S. dollar off 0.1%
• UK's Reeves promises changes in March if needed to meet budget rules
• UK gilt yields have largely mirrored Treasury yields in recent weeks
• Consumer confidence fell to -22 the lowest since late 2023: GfK survey
• Flash manufacturing and services PMIs will lead data risk in London
• Charts - daily momentum studies rise, 21-day Bollinger bands contract
• 5, 10 & 21-DMAs conflict - weeklies remain bearish - negative setup holds
• Monday's 1.2160 low, then the 1.2100 2025 base are initial major supports
• Close above the under pressure 1.2362 21-DMA would be positive for next
week
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters