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Jan 05 - 11:55 PM

GBP/USD - Caution Into U.S. Payrolls - Charts Point Lower

By Andrew M Spencer  —  Jan 05 - 10:10 PM

  • +0.15% in a tight 1.1914-1.1928 Asian range with modest flow on D3

  • Low key FX majors in Asia ahead of often volatile U.S. payrolls

  • No tier 1 UK data Friday - USD and risk appetite likely lead sterling

  • Charts; daily momentum studies, 21 day Bollinger bands gently ease

  • 5, 10 & 21 day moving averages head lower, bearish setup continues

  • Close above 1.2111 21 day moving average would end the downside bias

  • Falling 1.1848 lower 21 day Bollinger band is initial support

  • Longer-term target is a test of 1.1634, 38.2% Sep/Dec rise

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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