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Oct 01 - 03:55 PM

GBP/USD - Slide Arrested Ahead Of 1.34 After UK PMI Beat

By Paul Spirgel  —  Oct 01 - 01:36 PM
  • Sterling inching higher +0.63% to 1.3561; Friday's range 1.3576-1.3434

  • Pair moves off session low after UK final Mfg PMI beat nZRN002X0Z

  • Sterling rises from 2021 low, bulls take aim at 10DMA by 1.3603 nL1N2QX15V

  • Pair off trend lows ahead of 1.34, rises w/in daily Bolli envelope

  • Bears may be running out of gas, close above 10-DMA slows bearish tide

  • Above 1.3663's 50% Fib of 1.3913-1.3412 late Sep dip shifts control to bulls

  • Support firm ahead of 1.34, last 3 sessions; below 100-DMA by 1.3246 eyed

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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