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Jan 14 - 10:55 PM

GBP/USD - Recovered Early Losses, As The USD Slipped

By Andrew M Spencer  —  Jan 14 - 10:05 PM
  • +0.05% trading at the top of a 1.2730-1.2762 range, with moderate D3 flow

  • USD slipped in Asia after the PBOC surprised, leaving the MLR at 2.5%

  • There is no UK data or BoE events and a NY holiday, so risk and the USD lead

  • Charts; 21-day Bollinger bands edge higher - horizontal momentum studies

  • 5, 10, and 21-day moving averages rise - signals show a modest topside bias

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

  • The likely resilient 1.2825 December high is a potential range top

  • 1.2730 Asia low and last week's 1.2788 high are initial support, resistance

    For more click on FXBUZ

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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