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Dec 19 - 10:55 PM

GBP/USD - Extends Losses Into UK Retail Sales

By Andrew M Spencer  —  Dec 19 - 09:35 PM
  • Trades -0.15% towards the base of a busy 1.2486-1.2509 range on FX Matching

  • UK car manufacturing hits 44-year low, amid the transition to electric

  • Retail sales lead event risk in London - RTRS poll +0.5% m/m, +0.8% y/y

  • Charts - negative daily momentum studies, 21-day Bollinger bands expand

  • 5, 10 & 21-DMAs fall - a negative daily bias, plus weeklies remain bearish

  • The 1.2475 November trend base is in sight - next stop is the 1.2446 May low

  • A close below 1.2446 would be bearish for a test of the 1.2299 2024 base

  • Wednesday's 1.2730 high, then the 1.2810 December top are initial resistance

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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