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Jan 12 - 11:55 PM

GBP/USD - Key 1.3700 In View - Should Hold Unless USD Melts

By Andrew M Spencer  —  Jan 12 - 10:07 PM
  • +0.1% at the top of a 1.3655-1.3685 range with only intermittent interest

  • Brexit in the rear view mirror, sterling likely quiet in Asia without news

  • Techs; neutral momentum studies, 5, 10 & 21 daily moving averages rise

  • Neutral setup turned positive into the 1.3700 well tested range top

  • 1.3703 upper 21 day Bolli band is a good indicator of an overbought market

  • 2021 high also at 1.3703, and likely resilient, unless the USD slides

  • Asian 1.3655 base then London's 1.3540 Tuesday low are initial supports

    For more click on FXBUZ

gbp 2 jan 13 Click here

Source:
Refinitiv IFR Research/Market Commentary

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