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Oct 13 - 08:55 PM

GBP/USD - Key Resistance Held - Neutral Setup Makes Close Key

By Andrew M Spencer  —  Oct 13 - 07:30 PM
  • Flat after leading the USD higher - closed of 1% on a cocktail of factors

  • Risk off USD strength, Brexit stalemate nL8N2H44FM, weak jobs nL8N2H40ZP

  • UK vaccines chief - 1st vaccines unlikely to end pandemic - Sky nL4N2H44QI

  • Charts; 1.3079 50% Sep fall & 1.3084 upper 21 day Bollinger band capped

  • Dip turned a positive setup to neutral as 5, 10 & 21 DMAs flat line

  • Rejection of upper 21 day Bollinger and close below 21 DMA would be bearish

  • Soft close would target the 1.2701 lower 21 day Bolli band, as per September

  • NY afternoon 1.2922 low and London 1.3066 high initial support-resistance

For more click on FXBUZ


gbp oct 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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