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Jan 17 - 12:12 AM

GBP/USD - Heavy Cross Flow, As Key Retail Sales Approach

Published on Jan 16 - 10:00 PM
  • Flat with occasional interest in Asia, trading a 1.3065/1.3081 range

  • EUR/GBP saw some heavy flows, and trades at the top of a 0.8515/0.8522 range

  • Poll doesn't expect BoE to cut on Jan 30, rate bias is lower nL8N29K21K

  • Retail sales main event in UK, to gauge consumer response to the election

  • Charts, momentum studies, 5, 10 & 21 DMAs 21 day Bolli bands show no bias

  • 1.3081, 38.2% of Dec-Jan fall key tested, but no sustained break as yet

  • Break would be a positive signal, next resistance at 1.3120 50% Dec/Jan fall

  • 1.3075 250M, 1.3095 200M and 1.3130 260M are the close strikes


ukd jan 17 Click here

gbp jan 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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