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Feb 04 - 12:12 AM

GBP/USD - Back At Range Base, But 1.2900 Solid Support

By Andrew M Spencer  —  Feb 03 - 10:30 PM
  • Off 0.1% in a 1.2982-1.2999 range, with interest once Asia fully opened

  • EUR/GBP saw occasional flow, trades +0.15% at top of a 0.8512-0.8519 range

  • No significant UK data today, so headlines and the USD will likely lead

  • Yesterday's fall flipped daily signals to negative - 5, 10 & 21 DMAs slip

  • 1.2900/20 December low and 38.2% Sep-Dec 2019 rise is pivotal support

  • Resilient below 1.3000 - major news needed for a 1.2900 break nL1N2A400O

  • 1.3060/72 slipping 5, 10 & 21 DMAs are initial resistance

gbp 3 feb 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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