By Andrew M Spencer — Oct 23 - 11:15 PM
+0.2% in a busy 1.2244-1.2273 range on D3, with the USD off 0.15%
Bank of England rate has peaked, to stay at 5.25% through Q2 - poll
The impact of prior hikes is yet to feed through the UK economy
Postponed jobs than the services and manufacturing PMI's lead event risk
Charts; 5, 10 & 21-day moving averages coil, momentum studies edge higher
21-day Bollinger bands expand - mixed signals but a modest topside bias
Targets a test of the October 1.2337 high as the first major resistance
Last week's 1.2093 base then 1.2038, the October trend low are key support
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Source:
Refinitiv IFR Research/Market Commentary