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Oct 10 - 11:55 PM

GBP/USD - Soft Ahead Of A Busy UK And US Data Schedule

By Andrew M Spencer  —  Oct 10 - 11:15 PM
  • Off 0.05% at the base of a tight 1.3055-1.3065 range and moderate flow

  • GDP leads the monthly UK data dump, with construction, IP, and services

  • Data will provide a snapshot of the UK economy for the BoE rate decision

  • Core PPI and UoM consumer sentiment lead Friday's U.S. dollar data risk

  • Charts, ten days of lower daily highs leave a negative technical setup

  • Daily momentum studies head lower as 21-day Bollinger bands expand

  • 5 & 10 DMA slide - this week's 1.3133 high is the first resistance

  • 1.3002 Sept low and 1.2984 lower 21-day Bolli band likely resilient support

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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