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Nov 04 - 12:12 AM
GBP/USD - Election Promises To Fuel A Spending Bonanza
First appeared on eFXplus on Nov 03 - 09:55 PM
  • Flat, but reasonable flow despite the Tokyo holiday in a 1.2925/1.2940 range

  • EUR/GBP was quiet, trading little changed in a tight 0.8631/0.8635 range

  • Review supports plan by both major parties raising minimum wage nL8N27J0ZO

  • Public spending at the election to levels not seen since 1070s nL8N27H5J6

  • 1.3000 capped the Oct bounce - consolidation since leaves neutral technicals

  • Key levels are 1.3012 October high and 1.2790 late October range base

  • 1.2893 10 DMA and last week's 1.2975 high are initial support/resistance

gbp2 nov 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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