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Jan 22 - 11:55 PM

GBP/USD - Bid As China Stocks Package Rumours Support Sentiment

By Andrew M Spencer  —  Jan 22 - 10:05 PM
  • +0.1% near the top of a 1.2706-1.2727 range - busy after China opened

  • Risk appetite was supported by hopes of a China package to underpin stocks

  • Low Carbon secures funds to begin building a UK solar and battery portfolio

  • No tier one UK data or BoE events - risk appetite and the USD lead sterling

  • Charts; 5, 10 & 21 DMA coil with neutral 21-day Bollinger bands

  • Daily momentum studies conflict - no real bias suggests consolidation

  • Well-tested December/January range base around 1.2610 is key support

  • 1.2788 January high and 1.2793 upper 21-day Bolli band initial resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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