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Refinitiv
Dec 30 - 08:36 PM
GBP/USD - IMM Flip To Long, But USD Weakness Leads Into 2020
First appeared on eFXplus on Dec 30 - 06:15 PM
  • +0.05% after closing +0.2% on broad USD weakness, as risk appetite recovers

  • IMM data showed GBP positions have shifted from short to long nL1N2940UX

  • IMM positions are small at present, but reflect an upside bias post election

  • Yesterday's 1.3080 low supports and 1.3135, 38.2% of Dec fall held on close

  • Momentum studies 5, 10 & 21 DMAs still conflict, which is a neutral setup

  • Close above 1.3135 Fibo, would be a strong positive signal for early 2020

  • Year end should result in modest Asian interest and tight ranges



gbp dec 31 Click here

Source:
Refinitiv IFR Research/Market Commentary

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