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Jan 05 - 09:55 PM

GBP/USD - Firmer, But Offshore Fall Opens The Door To 1.1634

By Andrew M Spencer  —  Jan 05 - 07:55 PM

  • +0.1% after closing down 1.25% with risk appetite and stronger U.S. dollar

  • British shoppers defy cost-of-living crisis at Christmas nL8N33Q1M5

  • Uk's economic outlook remains weak, but may improve if confidence returns

  • Expecting risk appetite and the U.S. dollar to lead sterling in Asia

  • Charts; daily momentum studies, 21 day Bollinger bands gently ease

  • 5, 10 & 21 day moving averages head lower, setup remains negative

  • 1.1848 lower 21 day Bollinger band, 1.2111 21 day moving average key levels

  • Late New York 1.1873-1.1934 range is initial support, resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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