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Oct 29 - 09:55 PM

GBP/USD - USD Remains A Safe Haven, As The Second Wave Expands

By Andrew M Spencer  —  Oct 29 - 07:35 PM
  • Flat after closing -0.4% on broad EUR led nL1N2HK0F3, USD strength

  • Britain resists COVID lockdown as Europe fights the spread nL1N2HK2VC

  • Charts; bearish momentum studies, 5, 10 & 21 DMAs conflict - neutral setup

  • Rejected upper 21 day Bolli band last week and closed below 21 DMA Thursday

  • Setup targets a test of the 1.2843 lower 21 day Bollinger band

  • 1.2860/67 Oct range base & 61.8% September-October rise major support

  • Close below 1.2860 would be a bearish signal for next week

  • NY 1.2882 low and London 1.3025 high initial support-resistance

For more click on FXBUZ


gbp oct 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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