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Jan 08 - 03:55 PM

GBP/USD - Slides Into Week's Close Amid UK Negative Rate Tone

By Paul Spirgel  —  Jan 08 - 01:38 PM
  • GBP/USD -0.07% at 1.3554 into NorAm close; Fri range 1.3636-1.3540

  • Pair unable to hold post-NFP gains as traders keep focus on lower UK rates

  • US jobs miss sends sterling higher, 1.3703 trend high in focus nL1N2JJ1B2

  • 10-DMA supt at 1.3571 key; GBP bulls resilient even w/3 successive tests

  • Below eyes 21DMA by 1.3503; bulls in control abv 1.3447, 50% of 1.319-1.3703

  • Res 1.3671's Jan 6 high, 1.3689 upper30-d Bolli & 1.3703, 2021/Jan 4 high

  • EUR/GBP ends NY -0.44% at 0.9005, Fri range 0.9036-0.8993; EUR selling likely short-lived amid low UK rate tones

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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