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Oct 29 - 01:55 PM

GBP/USD - Dips Below 55-DMA Finds Support Ahead Of 30-DMA By 1.3665, For Now

By Paul Spirgel  —  Oct 29 - 01:31 PM
  • GBP/USD ends NY on 2-wk lows by 1.3685, -0.8%; Fri range 1.3804-1.3669

  • USD bid ahead of hawkish Fed meeting expectations, ECB remaining dovish

  • GBP traders reluctant to press bets either way pre-Fed, BOE nL1N2RP1JV

  • Pair supported ahead of 30-DMA by 1.3665, cls below 55-DMA by 1.3714 bearish

  • Below 30-DMA, 1.3623's 50% Fib of 1.3412-1.3834 Sep-Oct rise targeted

  • Bears gain momentum sub 1.3623 Oct 4 low at 1.3532, 2021 low 1.3412 in focus

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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