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