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Jan 10 - 01:55 AM

GBP/USD - Mixed UK Data, But Charts Suggest A 1.2300 Break

By Andrew M Spencer  —  Jan 09 - 10:20 PM

  • Trade -0.1%, at the base of a 1.2158-1.2189 range, with the USD firmer

  • UK jobs market eases again in December, cooling inflation fears nL8N33U4PX

  • UK consumer spending rises, but outpaced by inflation nL8N33U4LE

  • Charts; daily momentum studies conflict, 21 day Bollinger bands contract

  • 5 & 10 day moving averages base, daily signals show no real bias

  • Close above 1.2110 21 day moving average was a strong positive signal

  • Targets 1.2342 upper 21 day Bolli band - Monday's 1.2113 London low supports

  • Reasons to be cheerful amid sterling's economic gloom nL1N33V00Z

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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