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Nov 18 - 08:55 PM

GBP/USD - Grinds Higher - 1.3575 Pivotal For Downtrend

By Andrew M Spencer  —  Nov 18 - 06:46 PM

  • Steady in Asia - closed +0.05% after touching 1.3464 in early New York

  • Bid as EUR/USD jumped on profit taking and bargain hunting - EUR/GBP +0.4%

  • Ireland's Coveney - no UK compromise on protocol "deeply disappointing"

  • There was some optimism on progress in talks earlier this week nS8N2R5031

  • No deal for N.Ireland leaves door open to tariffs - bad news for sterling

  • Charts - 5, 10 & 21 daily moving averages conflict, 21 day Bolli bands fall

  • Neutral setup - close above 1.3463 10 DMA suggests a period of consolidation

  • 1.3575 21 DMA is the pivotal resistance - sustained break would be bullish

    For more click on FXBUZ


gbp Nov 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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