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Oct 21 - 09:55 PM

GBP/USD - Key Resistance Held, But Charts Point Higher

By Andrew M Spencer  —  Oct 21 - 07:35 PM
  • Flat after closing up 1.54%, leading the USD lower on Brexit talks optimism

  • Key EU 'level playing field' and UK 'sovereignty' issues remain [nL8N2HC23Z

  • 12 million people in UK will struggle to pay bills - watchdog nL8N2HB4ED

  • Charts; bounce leaves momentum studies, 5, 10 & 21 DMAs heading higher

  • Positive setup, 1.3146 upper 21 day Bolli suggests buying dips not breaks

  • 1.3173, 61.8% of the September fall capped Wednesday - major resistance

  • Close below 1.2938 21 DMA, a recent base, would end the topside bias

  • 1.3091, 38.2% of Wednesday's rise and 1.3177 NY high support-resistance

    For more click on FXBUZ

gbp oct 22 Click here

Source:
Refinitiv IFR Research/Market Commentary

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