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Oct 26 - 01:55 AM

GBP/USD - Solid 1.3830/35 Resistance, As The Bounce Falters

By Andrew M Spencer  —  Oct 25 - 11:18 PM

  • Steady, at the top of a 1.3758-1.3769 range with only modest interest

  • UK's Sunak to unfreeze public sector wages in the budget nL8N2RL5KA

  • Budget's major components appear to have all been given to the press

  • Charts; 10 & 21 day moving averages climb, 21 day Bollinger bands expand

  • Daily momentum studies conflict - bullish setup while 1.3750 10 DMA holds

  • Close below 1.3750 would target a test of 1.3653 21 day moving average

  • 1.3831, 50% of 2021 fall capped last week - break to test 1.3913 Sep high

  • Sterling vulnerable as the good news is priced in nL1N2RL2PU

    For more click on FXBUZ


gbp 2 Oct 26 Click here

Source:
Refinitiv IFR Research/Market Commentary

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