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Jan 15 - 10:55 PM

GBP/USD - Sold As Stocks Fall - USD, Treasury Yields Rise

By Andrew M Spencer  —  Jan 15 - 10:05 PM
  • Down 0.25% near the base of a very busy 1.2678 - 1.2731 range as risk soured

  • Asian stocks fell, the USD climbed with UST yields 10yr +6bp to 4.001%

  • UK jobs lead event risk in London - unemployment poll 4.2%, change +50K

  • Charts; 21-day Bollinger bands contract - momentum studies edge lower

  • 5, 10, and 21-day moving averages coil - daily signals show no strong bias

  • Well-tested December/January range base around 1.2610 is key support

  • Last week's 1.2675 low held in Asia - break would target key 1.2610 support

  • Asia's 1.2731 early high is now the initial resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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