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Nov 04 - 07:55 AM

GBP/USD - Important Points GBP/USD Traders Should Consider

By Jeremy Boulton  —  Nov 04 - 05:45 AM
  • Target for min tech correction recent 1.0327-1.1645 rise is 1.1142

  • Low following Thursday's BoE meeting was 1.1152, Friday's low 1.1150

  • 55-DMA 1.1379 and daily Ichimoku cloud top 1.1309 now resistance

  • Oct surge represents first decent correction for drop since 2021 taper talk

  • 1.1253 was 23.6% of the 1.4250-1.0327 drop influenced by Fed

  • Previously oversold conditions have been alleviated, trend remains down

  • Downside targets: 1.0720, 1.0146, 0.9684 and 0.9221

  • Pound has been set up to fall nL1N31Z0SW




Source:
Refinitiv IFR Research/Market Commentary

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