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Dec 17 - 10:55 PM

GBP/USD - Profit Taking - Strong Confidence Into Retail Sales

By Andrew M Spencer  —  Dec 17 - 10:10 PM
  • -0.25%, with USD firmer, risk off profit taking - 1.3540-1.3590 range

  • Modest volumes, Asia cautious on fresh GBP positions - Brexit uncertainty

  • Vaccine led UK consumer confidence jump - most in 8 years nL8N2IX23S

  • Charts; daily, weekly and monthly 5, 10 & 21 moving averages climb

  • Strong positive trending setup targets 1.3677, 76.4% 2018-2020 fall

  • 1.3562 rising upper 21 day Bollinger band suggests overbought short term

  • This week's 1.3270 low then 1.3135 low last week initial key supports

  • After consumer confidence rebound, retail sales will be interesting

    For more click on FXBUZ

UK data dec 18 Click here

gbp 2 dec 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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