By Andrew M Spencer — Jan 10 - 10:20 PM
Steady at the base of a tight and very quiet 1.2146-1.2162 range on D3
UK ministers meet Northern Irish leaders on post-Brexit trade nL8N33V3MM
Hopes of some progress, but DUP and right wing conservatives intransigent
Charts; daily momentum studies conflict, 21 day Bollinger bands contract
No tier one UK data - risk appetite, USD likely lead into U.S. CPI Thursday
Charts; momentum studies conflict, 21 day Bollinger bands contract
5, 10 & 21 day moving averages coil - neutral setup suggests consolidation
Monday's close above 1.2099 21 day moving average was a positive signal
Targets 1.2302 upper 21 day Bolli band - NY 1.2110 low is initial support
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Source:
Refinitiv IFR Research/Market Commentary