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Nov 01 - 01:55 AM

GBP/USD - Tests Key Support - Move Below 1.3550 Viable

By Andrew M Spencer  —  Oct 31 - 11:10 PM

  • Steady towards the top of a 1.3663-1.3687 range with occasional heavy flow

  • UK business sentiment slips but stays at elevated levels-Lloyds nL8N2RP6YL

  • Charts; 5, 10 & 21 day moving averages conflict, daily momentum studies slip

  • 21 day Bolli bands contract - positive setup has reverted to neutral

  • Oct upper 21 day Bolli rejection and close below 1.3696 21 DMA is bearish

  • Targets a test of the rising 1.3542 lower 21 day Bolli as seen in September

  • 1.3672, 38.2% of the October rise is close initial, and resilient support

  • Asian 1.3663 low and 1.3696 21 day moving average initial support resistance

    For more click on FXBUZ


gbp 2 Nov 1 Click here

Source:
Refinitiv IFR Research/Market Commentary

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