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Oct 14 - 01:55 AM

GBP/USD - Holds Tuesday's Fall, COVID-19 And Brexit Outlook Cap

By Andrew M Spencer  —  Oct 13 - 11:15 PM
  • Flat - 1.2920-1.2943 range with moderate interest, sustaining Tuesday's dip

  • UK vaccines chief - 1st vaccines unlikely to end pandemic - Sky nL4N2H44QI

  • Economic recovery unlikely while coronavirus is out of control nL8N2H454I

  • Charts; 1.3079 50% Sep fall & 1.3084 upper 21 day Bollinger band capped

  • Tuesday's dip turned a positive setup to neutral - 5, 10 & 21 DMAs flat line

  • Rejection of upper 21 day Bollinger and close below 21 DMA would be bearish

  • Soft close would target 1.2701 lower 21 day Bolli band, as seen in September

  • Thus Wednesday's close will likely be pivotal for the week nL1N2H5005

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gbp 3 oct 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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