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Oct 15 - 10:55 PM

GBP/USD - Holds Above Strong Support Into Key Inflation Data

By Andrew M Spencer  —  Oct 15 - 08:45 PM
  • Off 0.1% after closing up 0.1% - resilient with the U.S. dollar unchanged

  • BoE rate expectations steady after UK jobs - 80% chance of a Nov 7 25pt cut

  • Investors are wary of increased yields ahead of the October 30th budget

  • UK's CPI and PPI today will be key for Bank of England rate expectations

  • Charts- negative daily momentum studies as 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages crest or slide above resilient support

  • 1.3002 September low is holding - 1.2900, 0.382% Apr-Sep rise next support

  • 1.3083 10-DMA is close then the 1.3133 high last week are first resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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