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Refinitiv
Nov 28 - 08:36 PM
GBP/USD - Conservative Victory Priced In, As Range Holds
First appeared on eFXplus on Nov 28 - 06:30 PM
  • Flat after closing -0.1%, muted response to the YouGov model nL8N2875X3

  • Chances of a Conservative majority government moved up to 70% nL8N2882KA

  • Price action suggests a Conservative victory is priced in to sterling

  • Soft close failed to validate Wednesday's bullish outside day

  • Charts - neutral momentum studies and conflicting 5, 10 & 21 DMAs - no bias

  • Six week 1.2770/1.3012 range continues to dominate and should hold

  • Weekly chart shows 5, 10 & 21 MAs climbing, so the close will be significant

  • EUR/GBP trades at 0.8526 - 0.8500 800M strikes a base in Asia

gbp nov 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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