Sterling was confused at the start of the day as broad USD weakness prompted cable buying. As soon as that was over though the bearish sentiment returned with a crushing resolve with record highs in the EUR/GBP above 0.9800 inspiring a new year low in the GBP/USD in early Asia
Technical outllook:
GBP R1: 1.4610 S1: 1. 4400
R2: 1.4620 S2: 1. 4390
chart pattern shows the currency to be slight upward consolidation for the day. Trading range is expected between 1.4420-1.4580 levels for the day. Currency is seen trading on the moving average and stochastic is seen trending down
GBP R1: 1.4610 S1: 1. 4400
R2: 1.4620 S2: 1. 4390
chart pattern shows the currency to be slight upward consolidation for the day. Trading range is expected between 1.4420-1.4580 levels for the day. Currency is seen trading on the moving average and stochastic is seen trending down
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