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Nov 19 - 10:55 PM

GBP/USD - Bid With Risk Appetite - 1.2506 Test Beckons

By Andrew M Spencer  —  Nov 19 - 10:10 PM
  • +0.2% at the top of a 1.2447-1.2484 range, only occasional flow on D3

  • USD/JPY -0.45% and USD/CNH -0.45% lead the U.S. lower - risk bid in Asia

  • Commodities are firmer, AsiaxJP stocks +0.6%, Nikkei steady -0.05%

  • No significant data today, BoE Governor Bailey is due to speak

  • Charts; bullish outside day Friday, 5, 10, and 21-day moving averages climb

  • 21-day Bollinger bands, and momentum studies, head higher - positive setup

  • 1.2590 50% retracement of the July-October fall is a longer-term target

  • 1.2327, 38.2% of Oct/Nov rise, and last week's 1.2506 top are key levels

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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