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Feb 13 - 08:55 PM

GBP/USD - Key Resistance Broken - 1.2250 Is The Next Stop

By Andrew M Spencer  —  Feb 13 - 07:05 PM

  • +0.1% after closing +0.7%, supported by resilient risk appetite, softer USD

  • Demand for UK assets resurfaces in 2023 - underlying support for UK markets

  • Charts; Monday's strong close leaves a bullish outside day - positive signal

  • Opens above 1.2126 10 DMA, constructive sign, if confirmed by a strong close

  • 10 day moving average break opens the door to a test of 1.2251 21 DMA

  • 10 & 21 day moving averages head lower, 21 day Bolli bands expand

  • Momentum studies conflict - signals show little bias - topside break viable

  • 1.1984, 76.4% 2023 rise held on the close last week - resilient support

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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