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Nov 06 - 07:55 PM

GBP/USD - Sharp Early Dip, As The U.S. Dollar And Risk Lead

By Andrew M Spencer  —  Nov 06 - 06:20 PM

  • Off 0.35% as the USD bounced on China to keep zero-COVID policy nL4N31Z0X6

  • Closed up 1.9% on Friday, as the USD slid on Fed rate-hike pivot hopes

  • Nov 17 UK budget plan is the next pivotal event for the UK economy

  • BoE's recession warning turns spotlight to UK budget plan nL8N3204A5

  • Fin Min Hunt to outline GBP 60 bln in tax rises, spending cuts nL1N3220DL

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

  • 21 day Bollinger bands contract - charts now show a neutral bias

  • Last week's 1.1150 low and 1.1381 NY high are initial support, resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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