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Feb 05 - 10:55 PM

GBP/USD - Modest Bounce In Asia, As Treasury Yields Slip

By Andrew M Spencer  —  Feb 05 - 10:05 PM
  • Up 0.1%, at the top of a 1.2533/1.2547 range with consistent flow on D3

  • USD trades a touch softer, as Treasury yields ease - 10yr off 3bp to 4.133%

  • Cautious consumers and cold weather cooled UK retail sales growth in January

  • Barclays figures showed the strongest rise in online shopping in two years

  • Charts; 5, 10 & 21 day moving averages, daily momentum studies slide

  • 21-day Bollinger bands expand - daily signals show a bearish trending setup

  • 1.2600 prior range base and the 1.2628 London high are the first resistance

  • 1.2524, 38.2% of 2023 range tested but held - 1.2501 Dec base next support

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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