0740 GMT - The British pound is likely in a early recovery phase versus the U.S. dollar, based on daily chart, says Quek Ser Leang of UOB Global Economics & Markets Research in a research report. The recovery phase was triggered when the currency pair rose above the top of the daily Ichimoku cloud and was confirmed when the 21-day exponential moving average crossed above the 55-day EMA, the markets strategist says. Also, the daily moving average convergence divergence indicator has stayed positive during the currency pair's consolidation and recovery phases. The levels to monitor are 1.2655 and 1.2730, he adds. GBP/USD is little changed at 1.2593. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 17, 2025 02:40 ET (07:40 GMT)
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