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Dec 16 - 08:55 PM

GBP/USD - Sustains Monday's Gain, Inflationary Pressure Concerns

By Andrew M Spencer  —  Dec 16 - 07:15 PM
  • +0.05% after closing up 0.6% as PMIs showed increased inflationary pressure

  • UK employment data leads event risk in London - unemployment rate poll 4.3%

  • LSEG's GBPIRPR prices no change in rates by the BoE on Thursday at 85%

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

  • Mixed 5, 10 & 21-DMAs - a neutral daily bias, weeklies head lower

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

  • 1.2810 December high then 1.2839, 0.382% Sep/Nov fall major resistance

  • Bulls need a close above 1.2839, 0.382% of the Sep- Nov fall to get excited

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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