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Nov 08 - 08:55 AM

GBP/USD - Respects 23.6% Fibo Support Into U.S. Midterms

By Rob Howard  —  Nov 08 - 06:35 AM
  • Cable elicits support at 1.1449 after falling further from 1.1537 (Asia top)

  • 1.1449 is 23.6% Fibo of 1.1150 (Friday's low) to 1.1541 (Monday's high)

  • Drop to 1.1449 precedes U.S. midterm elections nL1N3231MNnL1N31W1B6

  • BoE's Pill sees no victory over inflation yet; recession coming nL8N3243EE

  • UK expected to raise pensions, benefits in line with inflation - The Times

  • See: nL1N3240IO. U.S. inflation data due Thursday, 8% YY f/c nL1N3240MT

Source:
Refinitiv IFR Research/Market Commentary

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