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Oct 31 - 01:55 AM

GBP/USD - Soft With The Firmer USD, Amid Mixed Inflation News

By Andrew M Spencer  —  Oct 30 - 11:05 PM
  • -0.1% at the base of a 1.2167-1.2155 range with the USD up 0.15%

  • UK shop price inflation at 5.2% from 6.2% - lowest since August 2022 -BRC

  • UK businesses recover some confidence, price expectations rise - Lloyds Bank

  • Mixed news for the BoE into Thursday's rate decision with no change expected

  • Charts; horizontal 5, 10 & 21-day moving averages, momentum studies rise

  • 21-day Bollinger bands contract - a neutral setup as the range dominates

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

  • 1.2120 Ldn/NY hourly base and 1.2177 21-DMA are initial support, resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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