By Andrew Spencer — Jan 22 - 06:56 PM
• Off 0.1% after closing down 0.35%, with the USD up just 0.1%
• Record bids for 15-year gilt despite debt selloff - confidence returns?
• There is no tier-one UK data - Risk appetite, USD, and Trump policies lead
• Charts - daily momentum studies rise, 21-day Bollinger bands edge lower
• 5, 10 & 21-DMAs conflict - weeklies remain bearish - negative setup remains
• Monday's 1.2160 low, then the 1.2100 2025 base are initial supports
• A close above the 1.2369 21-DMA, which capped Wednesday, would be positive
• Close above 1.2370 to target 1.2575/1.2616 range top in early 2025
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters