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Nov 01 - 11:55 PM

GBP/USD - Moves Higher In Asia Into The BoE Rate Decision

By Andrew M Spencer  —  Nov 01 - 11:05 PM
  • +0.35% near the top of a very busy 1.2132-1.2195 D3 range with the USD -0.3%

  • Broad USD weakness as UST yields slumped in NY and extended losses in Asia

  • UK construction sector shrinks at the fastest pace since the pandemic: RICS

  • Despite a struggling economy, the BoE is expected to keep rates steady

  • Focus on the tone of the Monetary Policy Statement, BOE Bailey's comments

  • Charts; 5, 10 & 21-day moving averages, plus momentum studies head higher

  • 21-day Bolli bands contract - modest positive setup targets 1.2337 range top

  • Choppy consolidation in the October - 1.2038-1.2337 broad range to extend

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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