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Nov 04 - 08:55 PM

GBP/USD - Familiar Levels - US Vote, BoE Rates Thursday Lead

By Andrew M Spencer  —  Nov 04 - 07:10 PM
  • -0.05% after closing up 0.25% with the USD softer into the election

  • BOE expected to cut 25bp to 4.75% on Thursday by all 72 economists polled

  • Expecting the BOE to remain cautious on inflation outlook post-budget

  • LSEG BOEWATCH prices a Nov 25bp cut at 90.83%, next cut priced in Feb

  • Charts - neutral daily momentum studies, 21-day Bollinger bands slip

  • 5, 10 & 21-day moving averages ease - signals show a modest bearish bias

  • 1.2844 October low, then the 1.2665 August base are initial supports

  • Thursday's 1.2999 top and last week's 1.3043 high are first resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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