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Oct 21 - 09:55 PM

GBP/USD - Positive Setup Amid Consumer Gloom, Inflation Fears

By Andrew M Spencer  —  Oct 21 - 07:44 PM

  • Flat after closing -0.2% - USD strength as profits booked on risk currencies

  • UK public's inflation expectations rocket to record high: GfK nL8N2RH5JB

  • British consumer confidence hits lowest since February at -17 nL8N2RH2HA

  • A difficult tightrope that the UK government and BoE need to negotiate

  • Charts; 5, 10 & 21 day moving averages climb, 21 day Bollinger bands expand

  • Net positive daily momentum studies - bullish signals continue to build

  • 1.3831 break, 50% of 2021 fall resilient, but 1.3913 September high beckons

  • Close below 1.3719 rising 10 DMA needed to undermine the topside bias

For more click on FXBUZ


gbp Oct 22 Click here

Source:
Refinitiv IFR Research/Market Commentary

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