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Oct 31 - 11:55 PM

GBP/USD - Firmer With Risk Appetite And Constructive Charts

By Andrew M Spencer  —  Oct 31 - 11:10 PM

  • +0.35% - with the USD a touch softer, higher stocks and commodities

  • Trades near the top of a 1.1460-1.1515 range with moderate flow on D3

  • UK faces 40 billion pound budget hole - Resolution Foundation nL8N31W5BF

  • Think tank believes tax rises and spending cuts of at least GBP 30bln needed

  • Charts, mixed daily momentum studies, 21 day Bollinger bands climb

  • Positive 5, 10 & 21 day moving averages - a modest bullish setup

  • 1.1634, 38.2% of the 2022 fall capped last week, now pivotal resistance

  • 1.1431 10 day moving average then 1.1317 21 DMA are initial supports

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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