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Dec 07 - 08:55 PM

GBP/USD - 1.3166 Test Likely As Omicron Caps BoE Expectations

By Andrew M Spencer  —  Dec 07 - 07:02 PM

  • Touch firmer after closing just 0.1% lower in a choppy session

  • Omicron uncertainty undermines expectations of Dec 16 BoE hike nL8N2SS3F5

  • Experts expect more Omicron clarity soon - BOEWATCH prices hike at just 33%

  • Steady BoE and likely more hawkish Fed a potential trigger for the next fall

  • Charts; 5, 10 & 21 day moving averages, 21 day Bollinger bands track lower

  • Bearish setup targets a test of 1.3166, 38.2% of the 2020-2021 rise

  • Close above 1.3351 falling 21 day moving average needed to end downtrend

  • 1.3209 NY low supports, 1.3281 10 DMA which has capped, is resistance

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gbp Dec 8 Click here

Source:
Refinitiv IFR Research/Market Commentary

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