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Dec 11 - 01:55 AM

GBP/USD - Poised Below Key 1.2839 Resistance Into US CPI

By Andrew M Spencer  —  Dec 10 - 10:10 PM
  • +0.05% in a 1.2772-1.2781 range - occasional FX Matching flow - =USD -0.05%

  • It's not unusual for FX majors to consolidate in Asia ahead of major US data

  • US CPI leads event risk, with no significant UK data or BoE events today

  • Techs - neutral daily momentum studies, horizontal 21-day Bollinger bands

  • 5, 10 & 21-DMAs conflict - little daily bias, weeklies still bearish

  • Last week's 1.2619 low, then the 1.2475 November trend low initial supports

  • Friday's 1.2810 top then 1.2839, 0.382% September/November fall resistance

  • A close above 1.2839 would end the September-November downtrend

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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