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Nov 21 - 10:55 PM

GBP/USD - Bounces With Risk Appetite And The Softer U.S Dollar

By Andrew M Spencer  —  Nov 21 - 10:25 PM

  • +0.4% with risk appetite buoyant in Asia and the USD weaker =USD -0.2%

  • E-mini S&P +0.15%, Brent +0.4%, Nikkei +0.75% and London copper +0.9%

  • No tier one UK data today, so risk appetite and the U.S. dollar to lead

  • Trades at the top of a 1.1823-1.1862 range with strong volume on D3

  • Techs, daily momentum studies conflict, 5, 10 & 21 day moving averages climb

  • 21 day Bollinger bands head higher - a strong positive technical setup

  • 1.1787 10 day moving average and 1.2038, 50% 2022 fall are pivotal levels

  • 1.1823 Asian low and Monday's early London 1.1839 high support, resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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