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Oct 27 - 02:55 AM

GBP/USD - Bid As Risk Appetite Returns In Asia

By Andrew M Spencer  —  Oct 26 - 11:10 PM
  • +0.1% at the top of a 1.2126-1.2139 range as risk appetite returns in Asia

  • E-mini S&P +0.55%, E-mini Nasdaq +0.8%, Nikkei +1.55% and AsiaxJP +0.8%

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

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

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

  • 1.2070 Thursday low and Wednesday's 1.2175 high initial support, resistance

  • Nov 2 BoE rate decision, BOEWATCH prices 91.95% chance of no change at 5.25%

  • Focus will be on the BoE's comments and updated quarterly forecasts

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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