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Dec 06 - 08:55 PM

GBP/USD - Downtrend Still Strong - Omicron Impact Key

By Andrew M Spencer  —  Dec 06 - 06:56 PM

  • Steady after closing up 0.2% with an inside day - downtrend still in play

  • UK has community Omicron variant transmission, response unclear nL1N2SR1WB

  • Omicron expands globally, but experts are unsure of the impact nL1N2SR1YF

  • Charts; 5, 10 & 21 DMAs, 21 day Bollinger bands all track lower

  • Bearish setup targets a test of 1.3166, 38.2% of the 2020-2021 rise

  • Close above 1.3367 falling 21 day moving average needed to end downtrend

  • 1.3232 NY low supports, 1.3291 10 DMA which has capped, resistance

For more click on FXBUZ


gbp Dec 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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