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Jan 30 - 01:55 PM

GBP/USD - Clings Onto Support Amid Rising BoE Risks

By Justin Mcqueen  —  Jan 30 - 11:35 AM
  • GBP/USD retracement so far capped by the 55DMA (1.2655)

  • Price action remains skittish ahead of Fed/QRA/BoE risk events

  • 1.26-1.28 range intact. However, possible outside day is a concern for longs

  • Firm break below 55DMA opens door towards 1.26

  • Sterling hampered by Soft BRC data, which backs less hawkish BoEnL1N3EK0U1

  • Traders are poorly positioned for this scenario nL1N3EJ0KM

  • BOE PREVIEW nL1N3EJ0HP

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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