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Dec 31 - 02:36 AM
GBP/USD - Bid, As USD Remains Offered And GBP Sentiment Recovers
First appeared on eFXplus on Dec 30 - 10:00 PM
  • +0.15%, on broad base further USD weakness, with very light Asian interest

  • EUR/GBP is flat and was also very quiet, USD is the centre of attention

  • IMM data showed GBP positions have shifted from short to long nL1N2940UX

  • IMM positions are small at present, but reflect an upside bias post election

  • 1.3135, 38.2% of Dec fall held on close yesterday and is back under pressure

  • Momentum studies 5, 10 & 21 DMAs still conflict, which is a neutral setup

  • Close above 1.3135 Fibo, would be a strong positive signal for early 2020

  • No UK data, but potentially volatile, in likely illiquid year end markets

gbp2 dec 31 Click here

Source:
Refinitiv IFR Research/Market Commentary

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