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