By Paul Spirgel — Dec 27 - 01:25 PM
GBP$ firm in NorAm afternoon +0.27% at 1.2561; Friday range 1.2592-1.2506
Bulls may take slight solace with test of 10-DMA res at 1.2576
Recent tests of supt by 1.25 fails, bulls try upside can't hold above 10-DMA
USD boosted by equity selling; GBP relatively high yield protects bulls
Still, traders reluctant to move meaningfully away from trend low sub-1.25
Res 1.2576 falling 10-DMA, 1.2592 Friday high, 1.2643- 50% of 1.2811-1.2475
Supt 1.2502 Thursday low, 1.2475 trend low Nov 22, 1.2446 wkly low May 10
Source:
London Stock Exchange Group | Thomson Reuters