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Jan 03 - 09:55 PM

GBP/USD - U.S. Dollar In The Driving Seat - Key Support Held

By Andrew M Spencer  —  Jan 03 - 08:27 PM

  • -0.05% after closing -0.3% on broad based USD strength as UST yields jumped

  • UK shoppers 25% down on 2019 in post-Christmas week-Springboard nL1N2TJ1AK

  • Omicron makes UK shoppers cautious - likely a boost for online shopping

  • Despite dip 5, 10 & 21 day moving averages plus 21 day Bollinger bands climb

  • Positive setup targets a test of 1.3576, 61.8% of the October-December fall

  • Close below 1.3448 10 DMA, a base Monday needed to undermine topside bias

  • NY 1.3431 low and European 1.3526 high are initial support and resistance

For more click on FXBUZ


gbp jan 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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