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Refinitiv
Dec 22 - 08:55 PM

GBP/USD - Heavy As Economic Outlook And Firm USD Weighs

By Andrew M Spencer  —  Dec 22 - 07:00 PM

  • Steady after closing down 0.4% - UK growth at the bottom of G7 nL8N33C12M

  • Brexit deal a 'nightmare' for small businesses - BCC survey nL4N33C1GR

  • Compromise on the N. Ireland protocol urgently needed to reboot EU/UK trade

  • Charts; neutral daily momentum studies, 5, 10 & 21 day moving averages crest

  • 21 day Bollinger bands flat line - negative signals - 6 days of lower lows

  • Close below 1.2174 21 DMA was bearish for 1.1634 38.2% Sep/Dec bounce

  • Well tested 1.2441, 61.8% of 2022 fall capped - remains pivotal resistance

  • 1.1993 NY low and 1.2146 London high are initial support and resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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