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TDUX
Nov 02 - 03:55 PM
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GBP/USD - Gassed By Daily Cloud Top Ahead Of US Midterms, BoE Rate Decision

By Refinitiv  —  Nov 02 - 01:53 PM

• Sterling a tad soft in NY afternoon clings to 0.11% gain at 1.3408; NorAm range 1.3431-1.3406

• Pair probed fresh 6-wk high earlier in session at 1.3348, just above the daily cloud top 1.3439

• USD gaining into NY close ahead of US election uncertainty Tuesday

• Cable likely supported by rising 10-DMA (1.3371) ahead of Thursday BoE expected hike

• As of Friday's data, GBP/USD net spec short large, subject to unwind on rate diffs

• GBP$ res 1.3448 Monday high, 1.3469 61.8% Fib of 1.3675-1.3137, 1.3566 daily high Sept 9

• Supt 1.3380 Monday low, 1.3371 rising 10-DMA, 1.3308 the 21-DMA



Sterling Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters
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