Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Jan 08 - 02:55 AM

GBP/USD - Sustains Friday's Gains, As The Range Extends

By Andrew M Spencer  —  Jan 07 - 10:15 PM
  • Trades in a very tight 1.2715-2.2727 range with little interest today on D3

  • There is no UK data or BoE events so risk appetite, USD likely lead sterling

  • Charts; momentum studies 5, 10, and 21-day moving averages conflict

  • 21-day Bollinger bands contract - the daily charts show no strong bias

  • The setup suggests that the four-week 1.2600 - 1.2825 range remains viable

  • Well-tested December/January range base around 1.2610 is key support

  • A close below 1.2600 would target a test of the 1.2497 December low

  • 1.2770 NY high Friday and 1.2825 December high are initial resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2024 eFXdata · All Rights Reserved
!