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Jan 10 - 08:55 PM

GBP/USD - Conflicting Signals But A 1.2300 Test Remains Viable

By Andrew M Spencer  —  Jan 10 - 06:45 PM

  • Steady, inside day after closing -0.25%, capped by firmer USD, UST yields

  • Hopes for a timely resolution to N.Ireland Brexit impasse fade nL1N33V1HU

  • DUP and the right wing conservatives remain unwilling to compromise

  • Expecting a tight Asian range led by the U.S. dollar and risk appetite

  • Charts; daily momentum studies conflict, 21 day Bollinger bands contract

  • 5, 10 and 20 day moving averages coil, daily signals show no real bias

  • Monday's close above 1.2110 21 day moving average was a positive signal

  • Targets 1.2301 upper 21 day Bolli band - NY 1.2110 low is initial support

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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