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TDUX
Oct 26 - 11:55 PM
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GBP/USD - Subdued As Upward Momentum Falters; UK Budget Wed Key

By Krishna Kumar  —  Oct 26 - 10:42 PM

• GBP/USD unchanged in Asia after closing 0.2% lower Mon on broad dollar rally

• Inability to post gains despite positive risk sentiment, lower oil weighs

• Repeated failures at 55-day MA, currently at 1.3408, leads to momentum loss

• Caution ahead of UK budget & Fed rate decision on Wed likely to cap rallies

• Mindful of the markets, UK's Healey is set to deliver a careful budget

• Britain's minimum wage to rise nearly 4%, Times reports

• UK retail body warns 'dam is starting to break' on price rises

• Resistance 1.3360, 1.3390-1.3400, support 1.3325, 1.3300-05, 1.3280

• Monday range 1.3326-1.3388, Asia 1.3335-1.3346
GBP:


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters
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