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Jan 04 - 08:55 PM

GBP/USD - Opens Higher, Supported By USD And JPY Weakness

By Andrew M Spencer  —  Jan 04 - 06:50 PM

  • Flat - closed +0.75% on broad USD weakness, yen cross demand, GBP/JPY +2%

  • Tokyo's response to yen weakness will likely lead sterling in Asia

  • UK businesses face 'bleak' outlook after poor end to 2022: BCC nL8N33P3NV

  • UK government must find a compromise with EU on post Brexit trade rules

  • Charts; daily momentum studies conflict, 21 day Bollinger bands fall

  • 5, 10 & 21 day moving averages gently ease, setup remains negative

  • 1.1897 lower 21 day Bollinger band, and 1.2133 21 DMA key levels

  • 1.2017 NY low and London 1.2088 high are initial support, resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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