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Dec 20 - 04:55 PM

GBP/USD - Still Respecting Key Support As BoE And Pandemic Flows Clash

By Randolph Donney  —  Dec 20 - 02:41 PM

  • Sterling again neared Dec's 1.31615 trend lows, key Fibos nL1N2T51BU

  • Thur's spike to 1.33755 on BoE rate hike imploded to 1.3175 low Mon

  • Prices well off lows as UK govt holds off on hardest COVID measures

  • Record high UK cases, now led by Omicron, keeping markets nervous

  • Risk-sensitive sterling capped by 10-DMA and Thur's 1.3243 low

  • US COVID cases also rising sharply, but well below record pace

  • Stalled downtrend intact while closes are below 1.3338, more so 1.3379

  • Gilt-Tsy yield spreads up sharply, but only bullish if risk is on again

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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