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Jan 16 - 08:36 PM

GBP/USD - Firmer Below Significant Resistance, Retail Sales Key

Published on Jan 16 - 06:15 PM
  • Flat after closing up 0.3% on optimism into retail sales in London

  • Data key guide to consumer response to the election, see chart for polls

  • Confidence surveys since the election have generally been positive

  • Charts, momentum studies, 5, 10 & 21 DMAs 21 day Bolli bands show no bias

  • 1.3081, 38.2% of Dec-Jan fall key tested, but no sustained break as yet

  • Break would be a positive signal, next resistance at 1.3120 50% Dec/Jan fall

  • NY afternoon 1.3033-1.3083 range is initial support/resistance

  • 1.3075 250M, 1.3095 200M and 1.3130 260M are the close strikes

gbp jan 17 Click here

ukd jan 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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