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Nov 02 - 08:55 PM

GBP/USD - Soft After A Sharp Fall On The Resurgent USD

By Andrew M Spencer  —  Nov 02 - 07:25 PM

  • -0.1% after closing -0.85% amid risk 'off' broad based U.S. dollar strength

  • EU, UK could resolve Northern Ireland trade issues by year-end - Irish PM

  • N.I. protocol compromise would be a strong sterling positive nL8N31Y7KC

  • Charts, daily momentum studies 5, 10 & 21 day moving averages conflict

  • 21 day Bollinger bands flat line - little bias ahead of BoE rate decision

  • 1.1634, 38.2% of the 2022 fall capped last week, remains pivotal resistance

  • Sustained 1.1315 21 DMA break would be a bearish signal for 1.0925 Oct low

  • 1.1315 21 day moving average and NY 1.1565 high initial support, resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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