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Jan 28 - 09:55 PM

GBP/USD - Eases - Gov't Tries To Change The Economic Narrative

By Andrew Spencer  —  Jan 28 - 07:35 PM

• -0.05 after closing down 0.45% with the USD up 0.5% on Trump tariff threats

• UK's Fin Min Reeves gears up for a fight to get the economy growing again

• Reeve to change the narrative from prior gov't errors to an upbeat outlook

• Bank of England launched a tool to calm gilt market in times of distress

• Charts - daily momentum studies rise, 21-day Bollinger bands contract

• 5 & 10-DMAs rise, weeklies remain bearish - positive short-term bias

• Monday's 1.2426 low, then 1.2360 21-day moving average are initial supports

• Targets a test of the 1.2575 Jan 7 high, and then the 1.2616 2025 top

Close below the 1.2360 21-DMA and the 1.2343 5-DMA to end the topside bias
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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