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Oct 05 - 04:55 PM
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GBP/USD - Holds Softer Tone, But 1.32 False Breaks Signal Slowing Momentum
By Refinitiv — Oct 05 - 01:48 PM
• Cable softer during NY trade, but another 1.32 false break offers dip-buyers hope
• The pair continues to draw support from EUR/GBP cross selling
• However, rebound attempts remain shallow, keeping spot in consolidation
• Another lift in US yields (10y nearing 5.35%) underpins USD
• On the technical front, the 200-hour MA cluster at 1.3237-60 is also a cap on cable
• Additional hurdles sit at 1.3274 and 1.3300. Support comes
in at 1.3140-60
GBPUSD vs 200-hour MA
Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))
Source:
London Stock Exchange Group | Thomson Reuters