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Nov 13 - 08:55 PM

GBP/USD - Off Early Low, Resilient Into This Week's Budget

By Andrew M Spencer  —  Nov 13 - 07:15 PM

  • -0.3%, as the U.S. dollar moved higher on perceived hawkish Fed comments

  • He actually repeated that rate hikes likely lower for longer nL1N3290MM

  • Fin Min Hunt - UK must raise taxes and cut spending pre budget nL8N329060

  • Poor to be spared much of the pain and balanced cuts to public services.

  • Charts, momentum studies, 5, 10 & 21 day moving averages head higher

  • 21 day Bollinger bands climb - a strong positive technical setup

  • Signals target a test of 1.2038, 50% 2022 fall then 1.2291 August high

  • Early 1.1767 Asian low then 1.1709 NY base are initial supports

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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