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Dec 18 - 10:55 PM

GBP/USD - Modest Recovery After The Fed Led Slump Into The BoE

By Andrew M Spencer  —  Dec 18 - 09:45 PM
  • Trades +0.15% as the USD slipped 0.2% - UST yields eased after the US surge

  • The Federal Reserve surprised markets - a sign of the Trump-led future?

  • Bank of England to keep rates steady as UK price pressures linger

  • The Monetary Policy Summary will be key for the market response to the BoE

  • Charts - negative daily momentum studies, 21-day Bollinger bands expand

  • 5, 10 & 21-DMAs fall - a negative daily bias, plus weeklies remain bearish

  • Targets a test of the 1.2475 November trend base, then the 1.2446 May low

  • Yesterday's 1.2730 high, then the 1.2810 December top are initial resistance

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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