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Jan 23 - 12:12 AM

GBP/USD - 1.3158 Resistance Holds, But Charts Turn Positive

By Andrew M Spencer  —  Jan 22 - 10:00 PM
  • Touch softer, at base of a tight 1.3135-1.3150 range with late morning flow

  • UK wage settlements slow in December, cautious 2020 start nL8N29Q56A

  • Resilient below 1.3000 in 20202 - 1.2955, January range low pivotal support

  • Charts - momentum studies, 5, 10 & 21 DMAs edge higher at familiar levels

  • Modest positive setup, sustained 1.3158 break, 61.8% Jan/Dec fall to confirm

  • 1.3039 London low then 1.3037, yesterday's Asian base initial support

  • No tier 1 UK data, 1.3000 650M, 1.3035 300M and 1.3060 410M close strikes

gbp2 jan 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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