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Nov 08 - 08:55 PM

GBP/USD - Poised Below Range Top, Focus Swings To The USD

By Andrew M Spencer  —  Nov 08 - 06:35 PM

  • Steady after closing up 0.25% - USD response to midterm elections leads

  • BoE's Pill flags recession - rate hikes likely data driven nL8N3243EE

  • Details in the budget on November 17th will be pivotal for the pound

  • Tough UK budget expectations underpinning current confidence in sterling

  • Charts, daily momentum studies, 10 & 21 day moving averages edge higher

  • 21 day Bollinger bands contract - a positive bias for 1.1645 Oct high test

  • Tough resistance at 1.1640/1.1740 38.2% 2022 fall, September/October high's

  • NY 1.1430-1.1599 range is initial support, resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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