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Jan 11 - 10:55 PM

GBP/USD - Charts Suggest Range Trading - USD In Control

By Andrew M Spencer  —  Jan 11 - 09:50 PM
  • +0.1% at the top of a 1.3509-1.3527 range with only modest interest in Asia

  • UK consumer spending slides in December as pandemic flares nL8N2JM5KV

  • Control of the coronavirus remains pivotal for a sustained economic recovery

  • The USD rebound leads at present, led by UST yields - fresh 10yr 1.158% high

  • Charts; negative momentum studies, 5, 10 & 21 daily moving averages conflict

  • Neutral setup suggests a period of consolidation, not a trending move

  • 1.3371 lower 21 day Bolli band, then 1.3311, 38.2% Sep-Jan rise support

  • Resilient resistance in December at 1.3700 likely range top nL1N2JM2Z5

    For more click on FXBUZ

gbp 2 jan 12 Click here

Source:
Refinitiv IFR Research/Market Commentary

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