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Oct 11 - 11:55 PM

GBP/USD - Recovers From Early Dip - Key Resistance In Sight

By Andrew M Spencer  —  Oct 11 - 11:06 PM

  • Steady at the top of a 1.3582-1.3599 Asian range with decent flow throughout

  • UK shoppers, hit by fuel crisis, turn more cautious on spending nS8N2DV074

  • UK 'policy approach of fatalism' early in pandemic major error nL8N2R73UX

  • Planning key- contrast between COVID-19 infections and vaccine rollout shows

  • Charts; momentum studies, 5, 10 & 21 daily moving averages conflict

  • 21 day Bollinger bands contract - neutral signals but primary trend is lower

  • Falling 1.3639 10 DMA tested Monday held on close - sustains downside bias

  • Sustained 1.3640 break to target falling 1.3841 upper 21 day Bollinger band

For more click on FXBUZ


gbp 2 Oct 12 Click here

Source:
Refinitiv IFR Research/Market Commentary

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