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Refinitiv
Jan 07 - 08:55 PM

GBP/USD - Resilient, But The 1.2600-1.2825 Range Remains In Play

By Andrew M Spencer  —  Jan 07 - 07:40 PM
  • Steady after closing +0.3% - stronger on the crosses as economic fears ease

  • London Tube strikes from Monday to Thursday have been suspended, union says

  • The Tube is key for transport in London - great news for 'City' commuters

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

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

  • The setup suggests a broad 1.2600 - 1.2825 range remains viable

  • Jan 2&5 1.2607 low provided a base - close below targets the 1.2497 Dec low

  • 1.2770 NY high Friday and 1.2827 December high are initial resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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