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Jan 31 - 10:55 PM

GBP/USD - BoE's Outlook And Statement's Tone Key For Sterling

By Andrew M Spencer  —  Jan 31 - 10:15 PM
  • +0.05% at the top of a 1.2675-1.2692 range in Asia with moderate D3 flow

  • Bank of England to keep rates on hold as inflationary pressures cool

  • The BoE's outlook and tone of the statement will be key for sterling

  • BOEWATCH prices a 17.4pt cut in May from 11.9pts at last Friday's close

  • Charts; neutral 5, 10 & 21 DMA, as 21-day Bollinger bands contract

  • Daily momentum studies flat line - daily signals show no significant bias

  • New York's 1.2658-1.2750 range is the initial support and resistance

  • 1.2600-1.2825 range is in its 8th week - set to extend unless the BoE shocks

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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