By Andrew Spencer — Jan 14 - 07:01 PM
• -0.1% after closing up 0.1% with the USD off 0.2% 0 EUR/GBP +0.5%
• UK fin min Rachel Reeves pledges to stick to fiscal rules at all times
• 10yr gilt yields remain elevated - today's CPI key - y/y poll 3.4%, vs 3.5%
• Charts - mixed daily momentum studies, 21-day Bollinger bands head lower
• 5, 10 & 21-DMAs slide - weeklies remain bearish - a strong negative setup
• Targets a test of the 1.2038 Oct 2023 low, then the 1.1805 2023 low in March
• Friday's 1.2322 high then the 1.2440 well-tested 21 DMA are first resistance
• A close above the 1.2440 21-DMA would be a positive signal
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters