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Refinitiv
Nov 19 - 07:55 PM

GBP/USD - Bullish Outside Day, Autumn Statement Likely Pivotal

By Andrew M Spencer  —  Nov 19 - 06:35 PM
  • Steady after closing up 0.4% despite weak UK retail sales on Friday

  • BoE continues to maintain the 'rates higher for longer' outlook

  • Fin Min Hunt ahead of the Autumn statement - no inflationary tax cuts

  • Fallout from the Autumn Statement on Wednesday will be key for sterling

  • Charts; bullish outside day, momentum studies, 5, 10, and 21-DMAs climb

  • 21-day Bollinger bands head higher - signals suggest further gains

  • 1.2590 50% retracement of the July-October fall is a longer-term target

  • 1.2327, 38.2% of Oct/Nov rise, and last week's 1.2506 top are key levels

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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