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Dec 11 - 11:55 PM

GBP/USD - Resilient As Yield Spread Expectations Support

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

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