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Dec 21 - 01:55 AM

GBP/USD - Edges Lower Amid Soft Data, As The Range Contains

By Andrew M Spencer  —  Dec 20 - 10:15 PM
  • -0.05% at the base of a tight but fairly active 1.2633-1.2648 range on D3

  • UK business confidence slips in December, economic concerns weigh: Lloyds

  • No tier one UK data or BoE events today, so risk, USD likely lead sterling

  • Techs; 5, 10, and 21-day moving averages coil, 21-day Bolli bands contract

  • Daily momentum studies conflict - signals show little significant bias

  • 1.2793 December high then 1.2883, 76.4% July/October fall are key resistance

  • 1.2625 New York low then the double bottom in December at 1.2501 support

  • Conflicting signals suggest a 1.2500/1.2800 range is viable into year-end

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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