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Oct 06 - 08:55 PM

GBP/USD - Bargain Hunting Into A Bearish Outside Day - USD Leads

By Andrew M Spencer  —  Oct 06 - 07:25 PM
  • +0.1% - bargain hunting into Tuesday's 0.9% fall, as the USD climbed

  • UK COVID loan scheme could lose 26 bln pounds from fraud - nL8N2GT1SS

  • Sentiment improves at Brexit talks, but key differences remain nL8N2GX51C

  • Bearish outside day would be validated by a close below Tue's 1.2864 base

  • Charts; 5, 10 & 21 DMAs conflict, while momentum studies conflict

  • Neutral setup - 1.3008 mid September range high capped - major resistance

  • 1.2863/1.2865 21 and 10 DMAs, then 1.2841, 50% Sep-Oct rise support

    For more click on FXBUZ

gbp oct 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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