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Oct 16 - 09:48 PM
GBP/USD - Key Resistance Held, Positive Signals Gain Momentum
First appeared on eFXplus on Oct 16 - 07:40 PM
  • Flat after closing up 0.3%, as a viable Brexit deal gains traction

  • EU deal appears likely, uncertain UK parliament response nL5N27144L

  • No deal on October 31st has been taken off the table - UK Min nL5N2712EB

  • Charts, daily momentum studies, 5, 10 & 21 DMAs climb, positive setup

  • 1.2883, 38.2% 2018/2019 fall capped in NY - now major resistance

  • Close above 1.2885 would target 1.3045, 76.4% of the 2019 fall

  • Close below 1.2582 Sep high needed to end the technical topside bias























gbp oct 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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