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Nov 06 - 11:55 PM

GBP/USD - China Led Gap Lower At The Open, Then Paired Losses

By Andrew M Spencer  —  Nov 06 - 10:20 PM

  • Off 0.4% in a busy 1.1300-1.1343 range - opened lower as USD gapped higher

  • USD bid, risk sold at the open on China to maintain it's zero-COVID policy

  • UK nurses begin biggest strike ballot in more than 100 years nL8N3172YM

  • Six in ten Britons to spend less at Christmas nL8N320580, tough UK winter

  • Charts, daily momentum studies 5, 10 & 21 day moving averages conflict

  • 21 day Bollinger bands contract - charts return to a neutral bias

  • 1.1300 Asian low and 1.1371 NY close Friday initial support, resistance

  • Sterling to remain volatile as diverse elements collide nL1N32300S

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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