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Jan 23 - 10:55 PM

GBP/USD - 1.2450 Test In View - Risk Resilient, Signals Climb

By Andrew M Spencer  —  Jan 23 - 10:15 PM

  • +0.1% at the top of a tight 1.2375-1.2390 range - little flow on D3

  • Asia quiet as Lunar New Year holidays continue - UK PMI data event risk

  • Britain and EU unlikely to change Brexit deal much, despite issues - report

  • Poll showed 56% of Britons would vote to rejoin the EU - but very unlikely

  • Charts; neutral momentum studies, 21 day Bollinger bands expand

  • 5, 10 & 21 DMAs rise - targets a close above 1.2441, 61.8% 2022 fall

  • Sustained 1.2450 break would open the door to 1.2666 May high

  • Close below 1.2171 21 day moving averages needed to end the topside bias

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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