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Jan 13 - 08:55 PM

GBP/USD - Uptrend Remains Solid - 1.3835 Likely Resilient

By Andrew M Spencer  —  Jan 13 - 06:45 PM

  • Steady after closing unchanged as the upper 21 day Bolli band capped again

  • Strong results from major UK retailers as consumers splurged nL1N2TT0JE

  • As inflation pressure build many retailers will have to increase prices

  • Charts; 5, 10 & 21 day moving averages, plus 21 day Bollinger bands climb

  • Momentum studies edge higher, which is strong positive trending setup

  • Next resistance comes in at the 1.3829/34 range top in October - likely caps

  • Sustained 1.3603 10 DMA break, a recent base would undermine topside bias

  • 1.3698 Asian low Thursday and 1.3749 London high initial support, resistance

For more click on FXBUZ



gbp jan 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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