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Oct 19 - 01:55 AM

GBP/USD - Bid With Risk, Lower U.S. Dollar And UST Yields

By Andrew M Spencer  —  Oct 18 - 11:35 PM

  • +0.2% - USD led risk on, as UST yields eased and Asian stocks bounced

  • Trades towards the top of a 1.3725-1.3764 range with plenty of interest

  • Charts; 5, 10 & 21 day moving averages climb, 21 day Bollinger bands expand

  • Daily momentum studies head north - positive signals continue to build

  • Rising 1.3794 upper 21 day Bollinger a good overbought market indicator

  • Bullish setup supports a strategy of buying dips rather than breaks

  • Targets a test of 1.3831, 50% of 2021 fall - 1.3625 21 DMA pivotal support

For more click on FXBUZ


gbp 2 Oct 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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