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Oct 15 - 11:55 PM

GBP/USD - Sterling Firms, But Higher Yields Take Their Toll

By Andrew M Spencer  —  Oct 15 - 11:05 PM
  • +0.1% at the top of a 1.2136-1.2155 range with moderate interest on D3

  • Sterling event risk is led by a speech from BOE Chief Economist Huw Pill

  • UK CFOs lose their appetite for debt after rates climb -Deloitte

  • The higher yields are starting to impact most parts of the UK economy

  • Charts; 5, 10 & 21-day moving averages coil, as momentum studies conflict

  • 21-day Bolli bands contract- mixed signals suggest a period of consolidation

  • Neutral setup leaves last week's 1.2337 high as initial major resistance

  • 1.2038, the October trend low remains the initial key support

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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