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Refinitiv
Nov 06 - 02:36 AM
GBP/USD - Breakout Remains Elusive, But Likely USD Driven
First appeared on eFXplus on Nov 05 - 10:15 PM
  • Flat in a tight 1.2870/80 range with little GBP interest, EUR/GBP also flat

  • PM Johnson to announce Dec 12 election; he will get Brexit done nL8N27L819

  • CBI - small UK manufacturers gloomiest since Brexit referendum nL8N27L77X

  • 1.3000 capped the October bounce - tight range since leaves neutral charts

  • Key levels are 1.3012 October high and 1.2790 late October range base

  • Breakout has to come, but difficult to call the weak side - likely USD led

  • NY 1.2860 low and London 1.2918 high initial support/resistance

gbp2 nov 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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