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Dec 23 - 10:55 PM

GBP/USD - 1.2475 November Low Vulnerable As Signals Slip

By Andrew M Spencer  —  Dec 23 - 09:40 PM
  • Off 0.05% in a tight and quiet 1.2524-1.2535 range on LSEG FX Matching

  • There is no UK data ahead of the Christmas holiday in the UK - likely quiet

  • Nobody knows what 2025 will bring, but geopolitics suggest it will be busy

  • Charts - daily momentum studies ease, neutral 21-day Bollinger bands

  • 5, 10 & 21-DMAs crest/fall - modest downside bias, weeklies remain bearish

  • The 1.2475 November trend base held on Friday - so becomes major support

  • Last week's 1.2730 high, then the 1.2810 December top are initial resistance

  • The 1.2446 May low and the 1.2810 December high are the pivotal levels

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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