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Oct 28 - 01:55 AM

GBP/USD - Recovered Early Losses, But Remains Heavy

By Andrew M Spencer  —  Oct 27 - 11:07 PM

  • Steady towards the top of a 1.3722-1.3739 range with plenty of interest

  • UK car output falls to lowest September level since 1982 nL8N2RN6UF

  • Chip shortages to blame, which will hit a broad range of manufacturing areas

  • Charts; 5, 10 & 21 day moving averages and daily momentum studies conflict,

  • 21 day Bolli bands contract - neutral setup - 1.3764 10 DMA break is bearish

  • 1.3672-77 is key support - 21 DMA and 38.2% of the September-October rise

  • Close below 1.3670 targets 1.3570-73 61.8% Sep-Oct rise, Oct range support

  • Hawkish BoE hike needed for a sustained 1.3835 range top break nL1N2RO007

For more click on FXBUZ


gbp 2 Oct 28 Click here

Source:
Refinitiv IFR Research/Market Commentary

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