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Oct 07 - 11:55 PM

GBP/USD - Green Shoots In The News, But Likely A Tough Winter

By Andrew M Spencer  —  Oct 07 - 11:20 PM
  • Touch firmer in a tight and low key 1.2916-1.2931 Asian range

  • Cable sensitive to Brexit news, but the USD and risk lead

  • UK labour market shows signs of life but challenges ahead -REC nL4N2GY2M1

  • UK financial services firms turn cautiously optimistic - CBI nL8N2GY5B6

  • Coming to the end of a second week in a 1.2808-1.3007 range - should hold

  • Charts; momentum studies 5, 10 & 21 DMAs conflict - neutral setup

  • 1.3008 mid September range high capped this week and now major resistance

  • 1.2841 50% of the September-October rise is initial significant support

  • For more click on FXBUZ

gbp 2 oct 8 Click here

Source:
Refinitiv IFR Research/Market Commentary

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