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Dec 15 - 11:55 PM

GBP/USD - Tight Range - BoE To Weigh Inflation Against Omicron

By Andrew M Spencer  —  Dec 15 - 10:13 PM

  • -0.05%, near the base of a 1.3250-1.3269 range with solid interest early

  • Inflation risk or Omicron slowdown? BoE rate decision balanced nL8N2T05AU

  • UK pay settlements rise to 2.2% as wage pressure starts to show nL8N2T03ME

  • Charts; 5, 10 & 21 day moving averages conflict, 21 day Bolli bands contract

  • Neutral setup suggests the recent period of consolidation can extend

  • Well tested 1.3166, 38.2% of the 2020-2021 rise is pivotal support

  • Close above 1.3298 falling 21 day moving average needed would be positive

  • BoE, COVID and political uncertainty to cap sterling nL1N2T03LA

For more click on FXBUZ


gbp 2 dec 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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