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Nov 11 - 10:55 PM

GBP/USD - Fresh Low, As Signals Point To 1.3166

By Andrew M Spencer  —  Nov 11 - 10:03 PM

  • Steady in a quiet 1.3354-1.3372 range, recording a fresh trend low

  • UK renewing efforts to get N. Ireland deal with EU The Times nFWN2S22AY

  • If an EU-UK compromise can be found it would be a major sterling boost

  • Charts 5, 10 & 21 daily and weekly MAs slide, 21 day Bollinger bands expand

  • Momentum studies track lower - strong negative trending setup

  • 1.3519 10 DMA is initial significant resistance, 1.3646 21 DMA pivotal

  • 1.3356 lower 21 day Bollinger band is a good indicator of an oversold market

  • First significant support is 1.3166, 38.2% of the 2020-2021 rise

    For more click on FXBUZ


gbp 2 Nov 12 Click here

Source:
Refinitiv IFR Research/Market Commentary

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