By Paul Spirgel — Oct 30 - 01:45 PM
GBP$ limps toward the NorAm close, -0.17% at 1.2991; Wed range 1.3043-1.2937
Pair survived UK FinMin Reeves 1st budget and upbeat U.S. ADP data
Volatility rising pre-elex, but anchor to 10-DMA at 1.2986 intact for now
Sterling slips to lower end of range awaiting US regime change nL1N3M60T0
US core PCE price Idx Thursday, payrolls Friday in focus
Key event remains U.S. election on Nov. 5; polls w/in margin of error
Trump seen as the favorite according to online betting markets
Res 1.3043 Wed high, 1.3048 daily cloud base, 1.3109 38.2% of 1.3434-1.2908
Sterling bulls gain momentum above 1.3171 the 50% Fib of 1.3434-1.2908
Supt 1.2984 the 200-HMA, 1.2937 Wednesday low, 1.2908 the Oct. 23 low
Source:
Refinitiv IFR Research/Market Commentary