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
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Source:
Refinitiv IFR Research/Market Commentary