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Nov 10 - 10:55 PM

GBP/USD - Familiar Levels, But Charts Show A Negative Bias

By Andrew M Spencer  —  Nov 10 - 09:35 PM
  • Off 0.05% in a 1.2910-1.2925 range with little interest on LSEG FX Matching

  • Veterans Day holiday in the US, no major UK data - tight London range likely

  • BoE Economist Pill - must focus on changes to longer-term price pressures

  • Charts - Neutral daily momentum studies, 21-day Bollinger bands gently ease

  • 5, 10 & 21-day moving averages slip - signals have turned negative

  • Thursday's 1.2877 low then last week's 1.2835 base are initial supports

  • Last week's 1.3046 high then the 1.3103 Oct 15th top is next resistance

  • Despite a second inside day sterling shows a modest downside bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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