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Nov 09 - 11:55 PM

GBP/USD - Recovers Early Losses, But Signals Point Lower

By Andrew M Spencer  —  Nov 09 - 10:08 PM

  • Flat at the top of a 1.3547-1.3761 range with only occasional interest

  • No significant UK data or BoE scheduled speeches, so the USD and risk lead

  • Charts 5, 10 & 21 DMAs slide, while 21 day Bollinger bands expand

  • Bearish trending setup holds while 1.3683 21 day moving average caps

  • This week's bounce a healthy correction, relieving oversold conditions

  • 1.3412-19 September low and 38.2% of May 2020-June 2021 rise major support

  • NY 1.3424 low and London 1.3608 high are initial support and resistance

For more click on FXBUZ


gbp 2 Nov 10 Click here

Source:
Refinitiv IFR Research/Market Commentary

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