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Dec 30 - 11:55 PM

GBP/USD - Firms As The USD Slips On Yen Strength, China PMI

By Andrew Spencer  —  Dec 30 - 09:54 PM

• +0.05% in a 1.2541-1.2560 range with strong flow on FX Matching

• The USD eased on continued year-end yen strength and mixed China PMI

• There is no UK data today, so expect tight sterling ranges led by the USD

• Charts - daily momentum studies flat line, 21-day Bollinger bands edge lower

• 5, 10 & 21-DMAs conflict - a neutral daily setup, weeklies remain bearish

• The 1.2475 November trend base held on Dec 20th - remains the major support

• 1.2730 Dec 18th high, then the 1.2810 December top are initial resistance

• The 1.2446 May 2024 low and the 1.2810 December high are the pivotal levels
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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