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Nov 23 - 11:55 PM

GBP/USD - Tight But Active Ranges, As The Downtrend Continues

By Andrew M Spencer  —  Nov 23 - 10:13 PM

  • Steady at the top of a tight 1.3370-1.3380 range with consistent flow

  • EUR/GBP traded 0.8396-0.8413 range with some solid interest on occasions

  • Charts - falling 5, 10 & 21 daily and weekly moving averages

  • 21 day Bollinger bands slide - bearish trending setup back in play

  • Lower 21 day Bollinger band at 1.3263 leaves plenty of room before oversold

  • 1.3519 21 day moving average remains pivotal resistance for downside bias

  • Initial significant support comes in at 1.3166, 38.2% 2020-21 rise

  • Tuesday's 1.3344 London low and 1.3387 NY high initial support resistance

For more click on FXBUZ


gbp 2 Nov 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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