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Jan 19 - 08:55 PM

GBP/USD - BoE Optimism, Positive Setup Targets Key Resistance

By Andrew M Spencer  —  Jan 19 - 06:45 PM

  • Steady after closing up 0.35% with the U.S. dollar broadly lower

  • BoE's Bailey sees more optimism in the UK about inflation falling

  • 50pt hike on February 2nd still favoured - BOEWATCH prices it at 70.92%

  • Charts; neutral momentum studies, 21 day Bollinger bands continue to expand

  • 5, 10 & 21 DMAs rise - targets another test of 1.2441, 61.8% 2022 fall

  • Close below 1.2140 21 day moving averages needed to end the topside bias

  • Early London 1.2314 low and this week's 1.2435 top first support, resistance

  • Close above 1.2450 would be a strong bullish signal for next week

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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