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Jan 23 - 08:55 PM

GBP/USD - 1.2440/50 Again Resilient, Signals Remain Upbeat

By Andrew M Spencer  —  Jan 23 - 06:40 PM

  • Flat after closing -0.2%, as gilt yields slipped, while bund, UST climbed

  • 1.2441 resistance again held - close above would target 1.2666 June high

  • UK employers urge Prime Minister Sunak to act urgently on growth reforms

  • Employers fear the election due in 2024 will inhibit short term policy

  • Charts; neutral momentum studies, 21 day Bollinger bands expand

  • 5, 10 & 21 DMAs rise - targets another test of 1.2441, 61.8% 2022 fall

  • Close below 1.2170 21 day moving averages needed to end the topside bias

  • NY 1.2325 low and 1.2447 Asian high initial support, and resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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