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Nov 13 - 03:55 PM

GBP/USD - Drifts Higher After Sunak Cabinet Reset, Ahead Of Key UK Data

By Paul Spirgel  —  Nov 13 - 01:35 PM
  • GBP$ holds 0.3% gain at 1.2263 into NY aft Mon range 1.2276-1.2225

  • Pair rallied on Sunak political moves and Mann's inflation comments

  • Sterling's political adrenalin shot may succumb to lower UK inflation

  • Tuesday UK employment, wages & U.S. CPI; Wed UK CPI in focus

  • GBP$ supt at daily cloud base 1.2248, Tues low 1.2225, 30-DMA 1.2203

  • Res 1.2276 Nov 13 high, 1.2297 the 55-DMA 1.2348 upper 30-d Bolli

  • A close abv 1.2392, the 50% Fib of 1.2746-1.2039 may shift momentum to bulls

Source:
Refinitiv IFR Research/Market Commentary

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