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Oct 12 - 01:55 AM

GBP/USD - City's Response To Bailey's Ultimatum Leads

By Andrew M Spencer  —  Oct 11 - 11:35 PM

  • -0.15%, capped by broad USD strength in a busy 1.0925-1.0989 range on D3

  • 'Get this done!' BoE's Bailey gives UK funds 3-day deadline to fix problems

  • Focus will be how UK credit markets react to the ultimatum nL8N31C155

  • GDP leads UK data - poll flat m/m +2.4% y/y, IP poll -0.2% m/m +0.6% y/y

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

  • 5, 10 & 21 day moving averages crest or fall - neutral setup now bearish

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

  • Unless something gives, sterling can slide to parity nL1N31C31A

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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