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Nov 08 - 07:55 PM

GBP/USD - Brexit End Game In View After A Bullish Outside Week

By Andrew M Spencer  —  Nov 08 - 06:15 PM
  • Up 0.1% at 1.3145 after opening at 1.3170, led by risk on USD weakness

  • Optimism, but no breakthroughs into Brexit talks nL1N2HU0AGnL9N2G0011

  • Charts; momentum studies, 5, 10 & 21 DMAs track north - bullish setup

  • Strong close left a bullish outside week - an unusual positive signal

  • 1.3173 61.8% Sep fall, 1.3177 October high capped Friday, pivotal resistance

  • A sustained 1.3180 break would open the door to 1.3481 October top

  • Close below 1.3054, 38.2% of the November band would undermine topside bias

  • 1.3094-1.3177 NY range is initial support-resistance

    For more click on FXBUZ

gbp nov 9 Click here

Source:
Refinitiv IFR Research/Market Commentary

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