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Jan 05 - 08:55 PM

GBP/USD - Trending USD Leads Cable, 1.3700 Back In Play

By Andrew M Spencer  —  Jan 05 - 07:21 PM
  • Touch firmer after closing up 0.45%, negating Monday's bearish outside day

  • USD back in the driving seat and continues to trend lower, supporting cable

  • Extended lockdowns in UK suggest a tough start to 2021 economy nL8N2JG1KH

  • British firms report a heavy impact from the November lockdown nL8N2JG3T3

  • Charts; neutral momentum studies, 5, 10 & 21 daily weekly & monthly MAs rise

  • Positive setup - 1.3677, 76.4% 2018-2020 fall major resistance on the close

  • Close below 1.3475 21 DMA, a base last week, would end topside bias

  • NY 1.3560-1.3641 range is initial support and resistance

For more click on FXBUZ


gbp jan 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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