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Dec 09 - 11:55 PM

GBP/USD - Key Resistance In View - Gov't Focus On Efficiency

By Andrew M Spencer  —  Dec 09 - 10:05 PM
  • Off 0.05% in a tight 1.2739-1/2753 range with solid flow on FX Matching

  • Without tier-one UK data or BoE events, the USD, risk appetite lead GBP

  • UK government departments to focus spending on Starmer's priorities

  • External experts to scrutinise departmental budgets to eliminate waste

  • Good government intentions - it will be interesting to see the reality

  • Techs - neutral daily momentum studies, 21-day Bollinger bands contract

  • 5, 10 & 21-DMAs conflict - little daily bias, weeklies still bearish

  • Last week's 1.2619 low, then the 1.2475 November trend low initial supports

  • Friday's 1.2810 top then 1.2839, 0.382% September/November fall resistance

  • A close above 1.2839 would end the September-November downtrend

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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