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Oct 30 - 01:55 AM

GBP/USD - Latest Data Supports The BoE Remaining On Hold

By Andrew M Spencer  —  Oct 29 - 11:05 PM
  • Trades off 0.1% near the base of an occasionally busy 1.2108-1.2135 D3 range

  • USD is little changed despite firmer USD yields in Asia, 10yr +2bp 4.868%

  • Fall in UK jobs postings shows the labour market is cooling - Adzuna

  • Data supports the market expectation that the BoE will keep rates on hold

  • Charts; 5, 10 & 21-day moving averages edge lower, neutral momentum studies

  • 21-day Bollinger bands slip - modest downside bias but the range dominates

  • Choppy consolidation in the October 1.2038-1.2337 broad range set to extend

  • 1.2105 New York low and 1.2135 Asian high are initial support, resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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