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Jan 13 - 08:36 PM
GBP/USD - Data, BoE Expectations And The Charts Point To 1.2900
First appeared on eFXplus on Jan 13 - 06:30 PM
  • Soft UK GDP and IP yesterday fuelled BOE rate cut expectations nL8N29I20G

  • GBP fell across the board, GBP/USD closed off 0.66% and EUR/GBP up 0.65%

  • The sweeping Conservative election victory has raised recent confidence data

  • Outcome of upcoming trade talks with the EU remains shrouded in uncertainty

  • Inflation data on Wednesday and retail sales Thursday will be key for cable

  • Daily charts show momentum studies, 5, 10 & 21 DMAs slipping, negative setup

  • 1.2900, December low then 1.2876 lower 21 day Bolli band are major support

  • 1.2961 NY low and yesterday's 1.3045 Asian high initial support-resistance

gbp jan 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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