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Jan 23 - 11:55 PM

GBP/USD - PMIs Lead - 1.2600/1.2825 Range Enters A 7Th Week

By Andrew M Spencer  —  Jan 23 - 10:15 PM
  • +0.05% in a 1.2686-1.2700 range with only moderate interest on D3

  • Low-key in Asia ahead of European and U.S. PMI's and the ECB rate decision

  • UK pay awards held at 6% in late 2023, dip likely in early 2024: XpertHR

  • BoE will closely watch UK wage growth as inflation eases in 2024

  • Charts; 5, 10 & 21 DMA coil with neutral 21-day Bollinger bands

  • Daily momentum studies flat line - setup suggests further consolidation

  • Well-tested December/January range base around 1.2610 is key support

  • 1.2788 January high and 1.2792 upper 21-day Bolli band are major resistance

  • 1.2650 NY low and early London's 1.2747 high are initial support, resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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