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Dec 08 - 10:55 PM

GBP/USD - On Session High, Bid With Risk, As Key Support Holds

By Andrew M Spencer  —  Dec 08 - 10:20 PM

  • Trades up 0.3% with USD -0.3% and risk bid - Nikkei +1.35%, AsiaxJP +1%%

  • Sterling quiet - USD sold late morning - GBP top of a 1.2227-1.2276 D3 range

  • Cash use slips to 15% of UK purchases in 2021, and 8% of retail sales

  • Substantial card transaction fees need to be regulated - BRC nL8N32Y4BN

  • Charts; neutral daily momentum studies, 10 & 21 day moving averages climb

  • 21 day Bollinger bands rise - positive setup while 1.2030 21 DMA holds

  • 1.2152 10 DMA held again - a base on the close for this move and key support

  • 1.2271 Asian high then this week's 1.2345 trend high are initial resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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