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Oct 11 - 01:55 AM

GBP/USD - Basing Jobs Market, Positive Signs For Sterling

By Andrew M Spencer  —  Oct 10 - 11:10 PM
  • +0.05% in a tight, but active 1.2287-1.2303 range on D3

  • UK vacancies fall but the jobs market slowdown may be ending - REC

  • The UK private sector jobs market is much stronger than the public sector

  • Charts; 5, 10 & 21 DMAs conflict, as 21-day Bollinger bands contract

  • Close above pivotal 1.2266 21-day moving average suggests a stronger bounce

  • 1.2067, 38.2% of the 2022-2023 rise remains resilient longer-term support

  • The target for the topside break is 1.2441 200-DMA, 1.2460, 38.2% 2023 fall

  • Sterling's topside break could extend to 1.2450

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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