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Jan 28 - 11:55 PM

GBP/USD - Firmer USD Caps, Despite Upbeat Asian Markets

By Andrew M Spencer  —  Jan 28 - 10:05 PM
  • Off 0.05% in an active 1.2690/1.2705 range, with the USD up 0.1%

  • USD bid despite positive Asian markets, Nikkei +0.9%, AsiaxJP +0.5%

  • No significant UK data or BoE events today, so the USD to lead offshore

  • Charts; 5, 10 & 21 DMA ease, as 21-day Bollinger bands edge lower

  • Daily momentum studies slip - setup shows a modest downside bias

  • Targets a test of last week's 1.2650 low, with the 1.2600 range base below

  • New York's 1.2758 high is the first resistance, then last week's 1.2774 top

  • The 1.2600-1.2825 seven-week range may be tested by this week's event risk

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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