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Jan 19 - 10:55 PM

GBP/USD - Weak Data, But Technical Outlook Remains Positive

By Andrew M Spencer  —  Jan 19 - 10:15 PM

  • Steady in a 1.2378-1.2398 range with very light flow on D3

  • UK consumer mood slides back to near 50-year low - GfK

  • Cost of living crisis and industrial unrest weighs on sentiment

  • Charts; mixed momentum studies, 21 day Bollinger bands expand

  • 5, 10 & 21 DMAs rise - targets another test of 1.2441, 61.8% 2022 fall

  • Close below 1.2140 21 day moving averages needed to end the topside bias

  • London 1.2314 low and this week's 1.2435 top first major support, resistance

  • Close above 1.2450 would be a strong bullish signal for next week

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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