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Jan 12 - 10:55 PM

GBP/USD - Touch Softer, But A Positive Setup Into UK Data

By Andrew M Spencer  —  Jan 12 - 10:15 PM

  • -0.1% with the USD a touch firmer, as the dust settles on pivotal U.S. CPI

  • Trades at the base of a tight 1.2200-1.2215 range - quiet on D3

  • Plenty of data in London led by GDP - poll -0.2% m/m, IP - poll -0.3% m/m

  • UK data needs to really surprise to move sterling - remains USD, risk led

  • Charts; bullish outside day on Thursday, momentum studies flat line

  • 21 day Bollinger bands expand, 5, 10 & 21 day moving averages rise

  • Positive setup Targets 1.2242 upper 21 day Bolli, 1.2444, 61.8% 2022 fall

  • Close below 1.2089/97 21 and 10 day moving averages would end topside bias

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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