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Nov 11 - 08:55 PM

GBP/USD - Trades Heavy Above Key Support Into UK Jobs

By Andrew M Spencer  —  Nov 11 - 06:55 PM
  • -0.05% after closing down 0.45% with the U.S. dollar up 0.5%, EUR/GBP -0.2%

  • UK employment data will be closely watched by markets and the BoE

  • BoE Chief Economist Huw Pill to speak in London, likely as per Friday's view

  • Charts - daily momentum studies slip, 21-day Bollinger bands gently ease

  • 5, 10 & 21-day moving averages edge lower - signals are negative

  • Last week's 1.2835 base, then 1.2732 0.618% Apr/Sep rise initial supports

  • Monday's 1.2925 top then Last week's 1.3046 high are first resistance

  • Sterling trades above the recent range base, which looks vulnerable

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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