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Nov 28 - 05:55 AM

GBP/USD - Rebound Hits The Rocks Amid Thin Market Conditions

By Peter Stoneham  —  Nov 28 - 04:10 AM
  • FX matching showing light Thursday flows: not favouring GBP

  • Speed and magnitude of the Wed rally brings a modest pullback

  • Thursday's action did damage the underlying bear trend

  • Wed close above the 10-DMA strengthens the reversal

  • Resistance at 1.2713, Nov.20 high

  • Bus sent in Britain's service sector falling at fastest rate in two years

  • Tax rises outlined in the Oct. 30 budget cited

    For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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