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Jan 16 - 10:55 PM

GBP/USD - Reeves Pro-Growth, Retail Sales Lead Data

By Andrew Spencer  —  Jan 16 - 09:30 PM

• Steady in a very tight 1.2230-1.2239 range with light FX Matching interest

• UK retail sales lead data risk in London - RTRS poll forecasts +0.4% m/m

• Tear down barriers to growth, UK finance minister Reeves tells regulators

• Charts - daily momentum studies conflict, 21-day Bollinger bands head lower

• 10 & 21-DMAs slide - weeklies remain bearish - a strong negative setup

• Targets a test of this week's 1.2100 low then the 1.2038 Oct 2023 low

• Last Friday's 1.2322 high, then the key 1.2414 21 DMA are first resistance

• A close above the 1.2414 21-DMA would suggest further gains
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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