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Jan 03 - 10:55 PM

GBP/USD - Sustains Wednesday's Bounce - Key Support At 1.2610

By Andrew M Spencer  —  Jan 03 - 10:00 PM
  • Steady in a 1.2661-1.2673 range with interest on D3 as Asia opened

  • Final UK services and mortgage approvals lead UK data - unlikely to impact

  • UK companies see rising revenue but remain wary of fresh investment - BCC

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

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

  • Suggests a broad 1.2600 - 1.2825 range is viable in coming sessions

  • Dec 21 1.2613 low provided a base - close below targets the 1.2501 Dec base

  • 1.2705 10-day moving average then 1.2758 2024 high are initial resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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