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Jan 29 - 08:55 PM

GBP/USD - Government Scandals Continue, As 1.2450 Caps

By Andrew M Spencer  —  Jan 29 - 06:40 PM

  • -0.15% after closing down 0.1% with the U.S. dollar a touch firmer

  • UK PM Sunak fires party chairman Zahawi over his personal tax affairs

  • Latest in a string of Conservative Party scandals, but election unlikely

  • Charts; 10 & 21 day moving averages, 21 day Bollinger bands head higher

  • Neutral momentum studies - net positive setup need progress soon

  • Sustained 1.2450 break needed soon to sustain the topside bias

  • Close above 1.2450 would target a test of the 1.2666 May high

  • Close below 1.2236 21 day moving averages would end the topside bias

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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