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Dec 05 - 10:55 PM

GBP/USD - Resilient With Risk - Outlook Remains Negative

By Andrew M Spencer  —  Dec 05 - 10:16 PM

  • +0.05% in a 1.3228-1.3257 D3 range - top may be a miss hit, 1.3240 top since

  • Risk appetite returned, E-mini S&P +0.45%, Brent +2.3%, 1.382% 10yr UST +4bp

  • CBI cuts UK economic growth forecasts on supply chain issues nL8N2SO465

  • UK suffers post Brexit U.S. metal tariffs - trade deal distant nL1N2SQ05R

  • Charts; 5, 10 & 21 DMAs, 21 day Bollinger bands all track lower

  • Bearish setup targets a test of 1.3166, 38.2% of the 2020-2021 rise

  • Close above 1.3380 falling 21 day moving average needed to end downtrend

  • 1.3209 NY low supports, 1.3301 10 DMA which has capped, first resistance

For more click on FXBUZ


gbp 2 Dec 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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