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Nov 03 - 11:55 PM

GBP/USD - Early Gains Reverse, As USD Surges On Tight Election

By Andrew M Spencer  —  Nov 03 - 10:00 PM
  • -0.5% towards base of a hectic 1.2934-1.3140 range - USD and risk led

  • Highs seen on hopes of a clear U.S. election winner, fell on close contest

  • EU, UK to continue Brexit talks - key issues unresolved nL1N2HP0ZN

  • Charts; this week's bounce off 1.2860 turned the downside bias to neutral

  • Momentum studies base, edge higher, while 5, 10 & 21 DMAs coil - little bias

  • 1.3123 rising upper 21-Day Bollinger and 1.3177 Oct high major resistance

  • Tuesday's 1.2911 base and Asia's 1.3140 high initial support-resistance

  • Despite the volatility, the broad 1.2860-1.3175 range remains in place

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gbp 2 nov 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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