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Nov 29 - 04:55 PM

GBP/USD - Bearish Gravestone Doji As Risk Comes Off, UK Mortgage Data Depresses

By Content Admin  —  Nov 29 - 01:50 PM
  • Sterling relinquished early gains based on China policy change hopes

  • Prices fell marginally, leaving a bearish gravestone doji candlestick

  • Slide comes after falling away from descending 200-DMA by Nov's peak

  • UK mortgage approvals plunged 10.6% to lowest since June 2020 nL8N32P2EV

  • That as BoE Gov Bailey defended the bank's policies to parliament committee

  • Prices probing 10-DMA support at 1.1954, with 200-DMA looming at 1.2168

  • Big US data dump Wed-Fri plus beige book and Powell speech on Wed eyed

  • Pair still largely driven by global risk-on/off flows as recessions loom

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Refinitiv IFR Research/Market Commentary


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