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Dec 04 - 08:55 PM

GBP/USD - Studies Remain Positive, As The USD Breaks Lower

By Andrew M Spencer  —  Dec 04 - 06:35 PM

  • -0.2% early after closing up 0.25% with an inside day, recovered US jobs dip

  • UK's Labour to announce plan to devolve power from Westminster nL8N32U0CM

  • Labour are well ahead in the polls and are now starting to offer policies

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

  • 21 day Bollinger bands surge - positive setup while 1.1905 21 DMA holds

  • 1.2291 well tested August high held on the close last week, but vulnerable

  • Sustained 1.2300 break would target a test of 1.2441, 61.8% 2022 fall

  • 1.2093 10 DMA, a base on the close on this move, is initial major support

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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