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Nov 10 - 10:55 PM

GBP/USD - Modest Correction After Thursday's Surge

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

  • Off 0.25%, as Asia counter-traded Thursday's CPI led U.S. dollar slide

  • Traded in a 1.1650-1.1714 range with good volume all day on D3

  • Nurses go on strike nL8N3256YL as port workers return to work nL1N3262Y1

  • Busy UK data schedule, led by GDP and IP will be event risk in London

  • Charts, momentum studies flat line, 5, 10 & 21 day moving averages climb

  • 21 day Bollinger bands expand - a modest positive technical setup

  • 1.1738 Sept high capped Thursday, break to target 1.2038, 50% 2022 fall

  • 1.1365 London low and Wednesday's 1.1334 base are initial supports

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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