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Nov 03 - 08:55 PM

GBP/USD - Under Pressure With Yield Spreads Set To Widen

By Andrew M Spencer  —  Nov 03 - 07:25 PM

  • +0.05% after closing down 2%, leading the broadly stronger USD higher

  • The 75pt BoE hike stressed upcoming deep recession fears nL1N31Z0YS

  • The outlook presented by the BoE was far more cautious than the Fed

  • GBP/USD yield spreads set to widen, which will weigh on sterling

  • Charts, daily momentum studies 5, 10 & 21 day moving averages crest, fall

  • 21 day Bollinger bands flat line - charts now show a negative bias

  • Close below 1.1303 21 DMA targets a test of the 1.0925 October low

  • 1.1060 October 21 low and Thursday's 1.1418 high initial support, resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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