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Dec 09 - 08:55 PM

GBP/USD - Resilient, As The UK Meets With The 'Eurogroup'

By Andrew M Spencer  —  Dec 09 - 06:55 PM
  • Flat after closing up 0.1%, resilient with the U.S. dollar also up 0.1%

  • British gov't departments to focus spending on Starmer's priorities

  • UK fin min Reeves met the 'Eurogroup' - pushing to reset ties after Brexit

  • As rising US tariffs approach, a strong UK/EZ working relationship is key

  • Techs - neutral daily momentum studies, 21-day Bollinger bands contract

  • 5, 10 & 21-DMAs conflict - neutral daily setup, weeklies still bearish

  • Last week's 1.2619 low, then the 1.2475 November trend low initial supports

  • Friday's 1.2810 top then 1.2839, 0.382% September/November fall resistance

  • A close above 1.2839 would end the September-November downtrend

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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