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Oct 01 - 09:55 PM

GBP/USD - Good News For The BoE - Key Resistance Held

By Andrew M Spencer  —  Oct 01 - 08:20 PM
  • -0.055 after closing -0.68%- risk off USD strength on Middle East escalation

  • UK pay awards by major employers remain at 4% - good news for the BoE

  • WorkSpace BOEWATCH prices an October 25pt cut to 3.25% as a 94% chance

  • Without tier one UK data or BoE speeches, risk appetite and the USD lead GBP

  • Charts, bearish daily momentum studies, as 21-day Bollinger bands climb

  • 5, 10 & 21 DMAs conflict - neutral setup as key 1.3410 Fibo resistance held

  • 1.3237, Tuesday's base and 21 DMA, then 1.3218, 50% of the Sept rise support

  • Tuesday's 1.3389 top then 1.3410 0.786% 2021/22 fall are resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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