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Refinitiv
Jan 16 - 12:12 AM
GBP/USD - Early Gains Short Lived, Plenty Of Interest
First appeared on eFXplus on Jan 15 - 09:55 PM
  • Flat in a 1.3038/1.3057 range, but solid interest during the Asian session

  • UK housing market received a boost from the UK election nL8N29K3YV

  • Confidence surveys since the election have generally been positive

  • Charts, momentum studies, 5, 10 & 21 DMAs 21 day Bolli bands show no bias

  • Setup neutral from negative, sterling is finding demand below 1.3000

  • 1.3074, 38.2% of 2020 fall key, a sustained break would turn bias to higher

  • London 1.2985 low and 1.3064 21 DMA are initial support/resistance



gbp3 jan 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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