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Oct 11 - 01:55 AM

GBP/USD - Heavy - Focus UK Debt Markets, After Monday's Turmoil

By Andrew M Spencer  —  Oct 10 - 11:45 PM

  • Off 0.15% with the USD up 0.15% traded 1.1025-1.1093 range, light D3 flow

  • UK needs GBP 62BLN spending cuts or tax rises to tame debt -IFS nL8N31B4GD

  • Focus in London will be on how UK debt markets respond, after Monday's rout

  • UK consumer spending lags far behind rising inflation nL8N31B4A3

  • Energy price increases drive retail caution, as cost of living crisis builds

  • Charts, daily momentum studies conflict, 21 day Bollinger bands edge lower

  • 5, 10 & 21 day moving averages coil - daily signals show little bias

  • Close below 1.1047, 38.2% Sep/Oct bounce would target 1.0771 61.8% Fibo

  • Sterling vulnerable, until market confidence returns nL1N31C01C

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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