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Nov 23 - 10:55 PM

GBP/USD - Sustained Break Of Key Resistance, As USD Slides

By Andrew M Spencer  —  Nov 23 - 10:15 PM

  • +0.3% with risk bid in Asia, stocks and metals higher, =USD -0.3%

  • USD extended Wednesday's losses as dust settled on perceived dovish FOMC

  • Trades near the top of a 1.2049-1.2094 range with modest D3 interest

  • Techs, daily momentum studies base, 5, 10 & 21 day moving averages climb

  • 21 day Bollinger bands expand - bounce leaves a strong positive setup

  • Sustained 1.2038 break, 50% 2022 fall, next stop is 1.2291 August high

  • 1.1896 10 DMA is initial significant support, then 1.1673 21 DMA

  • Asian 1.2049 low and 1.2164 upper 21 day Bolli band support, resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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