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Oct 04 - 08:55 PM

GBP/USD - Shorts Book Profit - 1.3700 Key Resistance

By Andrew M Spencer  —  Oct 04 - 07:47 PM

  • Steady after rising 0.5%, supported by the softer USD and profit taking

  • No significant UK-EU progress on the N. Ireland protocol nL8N2R01M9

  • UK-EU conflict likely over Ireland at some point without a breakthrough

  • Charts; 10 & 21 daily and weekly moving averages head lower

  • 21 day Bollinger bands slide - bearish trending signals and setup

  • 1.3419, 38.2% May 2020 to 2021 top proved initial resilient support

  • Close above 1.3591 10 DMA flags caution to bears - 1.3688 21 DMA pivotal

  • NY 1.3595-1.3640 range is initial support and resistance

For more click on FXBUZ


gbp Oct 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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