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Jan 12 - 03:55 AM

GBP/USD - Leans Bullish But Lacking Momentum

By Peter Stoneham  —  Jan 12 - 02:30 AM
  • More a Thurs hammer than a doji candle-leans bullish

  • We are long from 1.2741 for 1.2980 with a 1.2665 stop

  • Major hurdle at 1.2840, the 200-week moving average

  • Dec. 28 1.2825 high just ahead

  • Fourteen day momentum positive but with a low reading

  • Need to see price above the late Dec. high to strengthen the bull run

  • Key support at 1.2710, converged 10 and 21-day moving averages

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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