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Jan 05 - 01:55 PM

GBP/USD - Bulls Shrug Off UK Lockdown, Eye 2021 High By 1.3703

By Paul Spirgel  —  Jan 05 - 01:15 PM
  • GBP/USD firm into NorAm close +0.42% at 1.3627, NorAm range 1.3641-1.3560

  • Sterling back on firm footing after lockdown retreat nL1N2JG16A

  • USD broadly weaker ahead of Georgia elex result, Fed low-for-longer outlook

  • Pair shrugs off UK lockdown angst, finds support ahead of 10-DMA by 1.3542

  • Bulls remain in control eye upper 30-d Bolli at 1.3662, Jan 4 high 1.3703

  • Bears need sub-1.3419, 50% Fib of 1.3135-1.3703 to weaken bullish tone

  • EUR/GBP flat on day ends NY 0.9030, Tues range 0.9054-15; ex-Asia moves USD based

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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