By Andrew Spencer — Jan 29 - 07:15 PM
• Up 0.1% after closing steady with the U.S. dollar up 0.05%
• UK Fin Min Reeves puts a new Heathrow runway at the heart of her growth push
• Runway needed for the "growth corridor" between Oxford and Cambridge
• It is a bold plan, but successful implementation will be fundamental
• Charts - daily momentum studies rise, 21-day Bollinger bands contract
• 5 & 10-DMAs climb, weeklies remain bearish - a positive short-term bias
• Wednesday's 1.2394 low, and then the 1.2353 21-DMA are initial supports
• Targets a test of the 1.2575 Jan 7 high, and then the 1.2616 2025 top
• Close below the 1.2353 21-day moving average would end the topside bias
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters