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Nov 04 - 03:55 PM

GBP/USD - Eyes Key Fib Resistance At 1.1398 After US Unemployment Rate Rise

By Paul Spirgel  —  Nov 04 - 01:35 PM
  • GBP$ firm into NorAm close +1.29% at 1.13; NorAm range 1.1337-1.1150

  • Pair added to o/n gains in early NorAm after U.S. payroll data

  • Sterling shrugs off US payrolls rise to focus on rising unemployment

  • Rising unemp rate may hint prior hikes may slow inflation, diminish hikes

  • GBP$ supt at 1.1260 rising 10-HMA, 1.1150 area Thurs-Fri dbl bottom

  • Res 1.1337 Friday high, 1.1398 50% Fib of 1.1645-1.1150 dip

  • Nov 10's inflation data gaining importance, Rtrs f/c 8% vs 8.2% in Sept

Source:
Refinitiv IFR Research/Market Commentary

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