By Andrew M Spencer — Dec 11 - 10:15 PM
Trades +0.15%, near the top of a busy 1.2749/1.2770 range on FX Matching
UK housing market strengthened despite economic uncertainty, RICS survey
Cautious BoE as the ECB and Federal Reserve likely cut to underpin sterling
With no first-tier UK data or BoE activity - USD, EUR/GBP flow lead today
Techs - neutral daily momentum studies, and 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
Dec 6 1.2810 recovery top then 1.2839, 0.382% Sep/Nov fall resistance
A close above 1.2839 Fibo resistance will end September-November downtrend
For more click on FXBUZ
Source:
London Stock Exchange Group | Thomson Reuters