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Dec 20 - 01:55 PM

GBP/USD - Clings To Key Supports After BoJ-Led Risk-Off Dip

By Content Admin  —  Dec 20 - 11:40 AM

  • Sterling is dn 0.16% after a BoJ-led risk-off dip to 1.2086

  • That low is by the kijun and 200-DMA at 1.2095/92

  • With the up TL from Sept's record low and 30-DMA at 1.2060/47

  • Tuesday's low marked the first lower weekly low in seven weeks

  • The Dec. 7 pullback low at 1.2108 is the weekly on-close pivot point

  • A close below there and the 30-DMA could see Oct-Dec rise retracements

  • Dour U.S. housing data hit USD nL1N33A12O, but is risk-off & a GBP drag

  • BoE rates still priced to rise above Fed rates in Q4 2023

  • But that as UK inflation's much worse than in US, with strikes on the rise

  • UK economy likely to weaken more than US, as Brexit adds to trade woes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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