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Jan 20 - 10:55 PM

GBP/USD - Softer Into Jobs - Volatile On Trump Tariff Comments

By Andrew Spencer  —  Jan 20 - 09:55 PM

• Off 0.45% after Trump said he's thinking of 25% tariffs on Mexico, Canada

• GBP likely resilient to tariffs - UK runs a small trade deficit with the US

• GBP/USD traded a 1.2249-1.2345 range - hectic FX Matching on Trump comments

• UK jobs data leads event risk in London - Trump announcements in the US

• Charts - daily momentum studies rise, 21-day Bollinger bands head lower

• 10 & 21-DMAs slide - weeklies remain bearish - the negative setup remains

• Monday's 1.2160 low, then the 1.2100 2025 base are initial supports

• 1.2387 21-DMA then the Jan 7 1.2575 high are first resistance

• A close above the 1.2387 21-DMA would be a positive signal
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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