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Dec 27 - 01:55 PM

GBP/USD - Bulls Flirt With 10-DMA Resistance, Gassed Ahead Of 1.26

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

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