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Jan 12 - 08:55 PM

GBP/USD - 1.3700 Range Top Likely Resilient Unless USD Slides

By Andrew M Spencer  —  Jan 12 - 06:30 PM
  • -0.1% after rising 1.15%, as the BoE played down negative rates nL8N2JN1YS

  • Broad based USD weakness offshore, as the USD fell as UST yields retreated

  • Control of the coronavirus pivotal for a sustained UK economic recovery

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

  • Neutral setup has turned positive into the 1.3700 well tested range top

  • 1.3697 upper 21 day Bolli band is a good indicator of an overbought market

  • 1.3703 2021 high in view, but likely resilient, unless the USD slides

  • London's 1.3540 low then this week's 2021 1.3451 base initial supports

    For more click on FXBUZ

gbp jan 13 Click here

Source:
Refinitiv IFR Research/Market Commentary

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