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Oct 20 - 03:55 PM

GBP/USD - Bulls Shrug Off CPI Miss, 1-Month High By Key Fibo At 1.3831 Probed

By Paul Spirgel  —  Oct 20 - 01:36 PM
  • Sterling firms into NY close, ends by session high +0.26% at 1.3825

  • GBP/USD finds res at 1.3831, 50% Fib of 1.4250-1.3412's 2021 range

  • Post-UK CPI weakness reversed, UK rates price in 2021 hike BOEWATCH

  • Sterling bulls shrug off UK CPI miss, highs above 1.38 in view nL1N2RG1DE

  • Above 1.3831 bulls eye the upper 30d Bolli at 1.3899, late Jul high 1.3984

  • 55-DMA supports by 1.3728, below 10/30-DMA support by 1.3680 in focus

  • EUR/GBP slips 0.06% to 0.8428, Wed range 0.8458-25; risk bid as havens USD, JPY unwound

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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