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Nov 04 - 11:55 PM

GBP/USD - Despite Major Event Risk The Range Holds Firm

By Andrew M Spencer  —  Nov 04 - 10:05 PM
  • -0.2% - USD a touch firmer - flurry of activity on negative rate story

  • BoE said to be considering move into negative rates, Telegraph nFWN2HQ178

  • Bank of England poised to take bond-buying plan above $1 TLN nL8N2HQ3NV

  • Momentum studies edge higher, while 5, 10 & 21 DMAs coil - neutral setup

  • 1.3123 falling upper 21-Day Bollinger and 1.3177 October high capped

  • 1.2860/67 October range base and 61.8% Sep/Oct rise are key support

  • 1.2930-1.2986 Asian range is initial support-resistance

  • Despite major event risk, 1.2860-1.3175 range held & can extend nL1N2HR007

For more click on FXBUZ


gbp 3 nov 5 Click here

ukd 2 nov 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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