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Oct 09 - 08:55 PM

GBP/USD - Key Resistance In View As Signals Base, Hawkish BoE

By Andrew M Spencer  —  Oct 09 - 07:20 PM
  • Steady after closing flat after recovering early losses as the USD retreated

  • Hawkish comments from Bank of England policy committee member Catherine Mann

  • UK funds sector says at risk of losing competitiveness post-Brexit

  • Charts; an inside day leaves Monday's signals intact - a base is forming

  • Positive cross of the 5 and 10-day moving averages undermines the downtrend

  • 1.2067, 38.2% of the 2022-2023 rise remains resilient key support

  • Close above the 1.2264 21-day moving average would end the downtrend

  • A topside break would target the 1.2441 200-day moving average

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Refinitiv IFR Research/Market Commentary


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