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Jan 29 - 08:36 PM

GBP/USD - Breakout Approaches, As Charts Turn Negative

By Andrew M Spencer  —  Jan 29 - 06:50 PM
  • Touch firmer after closing off 0.1% with EUR/GBP flat, with an inside day

  • Johnson prepared to accept post Brexit border checks -Telegraph nFWN29Y19E

  • If true, will be poorly received in Northern Ireland, suggests hard Brexit

  • Charts, momentum studies, 5, 10 & 21 DMAs edge lower - negative setup

  • Tightening 1.2967-1.3165 21 day Bolli bands indicat a breakout is coming

  • Bid under 1.3000, major 1.2900/20 support, Dec low & 38.2% Sep-Dec rise

  • Close above 1.3102, 61.8% of the January dip would be a positive signal

  • 1.3000 175M strikes and yesterday's 1.3028 high initial support-resistance

gbp jan 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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