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Nov 20 - 08:55 PM

GBP/USD - Bid With Risk Appetite - Key Resistance In Sight

By Andrew M Spencer  —  Nov 20 - 06:45 PM
  • Steady after closing up 0.37% with solid risk appetite - US dollar off 0.4%

  • PM Sunak promises tax cuts in the budget after meeting his inflation pledge

  • Next UK gov't will find it hard to avoid raising taxes to maintain services

  • A free-spending UK budget on Wednesday will be poorly received by markets

  • Charts; 5, 10, and 21-day moving averages climb with daily momentum studies

  • 21-day Bollinger bands expand, which is a strong positive trending setup

  • 1.2590 50% of the July-October fall remains the now close longer-term target

  • 1.2462 New York low, then Monday's 1.2447 Asian low are initial supports

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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