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Jan 11 - 01:55 AM

GBP/USD - 2024 High Capped, As The Focus Swings To US Inflation

By Andrew M Spencer  —  Jan 10 - 10:10 PM
  • +0.2% near the top of a 1.2740-1.2769 range with the USD softer in Asia

  • UK aims for faster investment decisions on new nuclear power projects

  • Nuclear plans are all well and good - implementation will be much harder

  • Expecting tight sterling ranges ahead of today's US inflation data

  • Charts; momentum studies flat line - 21-day Bollinger bands contract

  • 5, 10, and 21-day moving averages base/rise with the range top in sight

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

  • 1.2771 2024 high under pressure - 1.2825 December high likely resilient

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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