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Jan 17 - 11:55 PM

GBP/USD - Extends Gains, As The USD Eases, Risk Resurfaces

By Andrew M Spencer  —  Jan 17 - 10:15 PM
  • Up 0.1% is a 1.2672-1.2695 range, with the USD softer, Nikkei +0.45%

  • No major UK data or BoE events, so risk, US dollar are likely to lead GBP

  • Focus will be on the gilt market after Wednesday's CPI-led surge in yields

  • Charts; 21-day Bollinger bands contract - momentum studies edge lower

  • 5, 10, and 21-day moving averages conflict - signals show no strong bias

  • Dec/Jan range base around 1.2610 is key support - held on the close

  • Close below 1.2600 would target 1.2524, 38.2% of the Oct-Dec climb

  • Asian 1.2672 low and 1.2711/16 10 & 21 DMAs are initial support, resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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