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Nov 23 - 08:55 PM

GBP/USD - Downtrend Builds Steam For A 1.3166 Test

By Andrew M Spencer  —  Nov 23 - 06:38 PM

  • Steady - closed -0.15%, capped by EUR/GBP bargain hunting, profit taking

  • EU's Sefcovic says N.Ireland talks ‘probably’ drag into 2022 nFWN2SE0ZL

  • Suggests the major issue will not impact sterling until the New year

  • Charts - 5, 10 & 21 daily and weekly moving averages head lower

  • 21 day Bollinger bands slide - bearish trending setup returns

  • Lower 21 day Bollinger band at 1.3263 leaves plenty of room before oversold

  • 1.3519 21 day moving average remains pivotal resistance for downtrend

  • Initial significant support comes in at 1.3166, 38.2% 2020-21 rise

    For more click on FXBUZ


gbp Nov 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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