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Dec 24 - 01:55 AM

GBP/USD - Risk Appetite Key For The Next Sterling Move

By Andrew M Spencer  —  Dec 23 - 10:16 PM

  • Off 0.05% with a tight 1.3405-20 range in quiet pre holiday trading

  • Optimism on COVID-19 vaccines, pills and research supports risk nL8N2T816M

  • Improved risk appetite and short covering behind sterling's recovery

  • This week's bounce turned the technical outlook from neutral to positive

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

  • Bullish setup, but 1.3399 upper 21 day Bolli band suggests overbought here

  • 1.3417 38.2% October-December fall tested in NY, but held on the close

  • Sustained 1.3420 break would initially target 1.3497, 50% Oct-Dec fall

For more click on FXBUZ


gbp 2 dec 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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