By Andrew M Spencer — Dec 27 - 10:15 PM
-0.05% with the U.S. dollar a touch firmer in a low key Asian session
Trades near the top of a 1.2008-1.2026 range with moderate flow on D3
No significant long weekend news for sterling - EPL coverage leads headlines
Charts; daily momentum studies, 5, 10 & 21 day moving averages crest, ease
21 day Bollinger bands contract, negative signals maintained over Christmas
Sustained Dec 21 1.2171 21 DMA break bearish for 1.1634 38.2% Sep/Dec bounce
Well tested 1.2441, 61.8% of 2022 fall caps - still major pivotal resistance
1.2005 NY low and European 1.2111 high are initial support and resistance
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Source:
Refinitiv IFR Research/Market Commentary