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Oct 30 - 02:36 PM
GBP/USD - May Widen Smallest Daily Range Since Oct 7 Post-Fed
First appeared on eFXplus on Oct 30 - 12:35 PM
  • Cable has traded a 49 pip range thus far Wednesday, 1.2859-1.2908, pre-Fed

  • 49 pips is the smallest daily range since Oct 7 (48 pip range that day)

  • Option-related supply has helped define peak of today's range nL2N27F05K

  • GBP/USD range may widen on Fed policy statement/Powell briefing nL2N27D1D8

  • 1.2927, 1.2950 (Oct 24 high) and 1.30 are resistance levels beyond 1.2908

  • Support points below 1.2859 include 1.2845, 1.2807 and 1.2790 (Oct 24 low)

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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