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Jan 29 - 08:55 PM

GBP/USD - Steady After The New York Bounce, As Risk/USD Lead

By Andrew M Spencer  —  Jan 29 - 07:05 PM
  • Steady after closing up 0.05%, bouncing off 1.2662 with risk appetite in NY

  • The shadow banking sector may pose risks to the UK's financial stability

  • GBP/USD consolidation is likely to extend into Wednesday's Fed rate decision

  • Charts; 5, 10 & 21 DMA coil, as 21-day Bollinger bands contract

  • Daily momentum studies slip - daily signals show no significant bias

  • New York's 1.2662 low and then last week's 1.2650 base are initial support

  • Early London's 1.2718 high, then last week's 1.2774 top are first resistance

  • The 1.2600-1.2825 seven-week range may be tested by Fed/BoE rate decisions

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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