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Oct 24 - 01:55 AM

GBP/USD - Bid Into Key Postponed Jobs And PMI Data

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

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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