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Oct 08 - 08:55 PM

GBP/USD - Soft With Risk Appetite, But A Base Is Forming

By Andrew M Spencer  —  Oct 08 - 07:35 PM
  • Off 0.1%, as the safe-haven US dollar firms amid turmoil in the Middle East

  • 'Get Britain building again', as UK's Labour sets out a growth plan

  • If the proposals are credible, building infrastructure will be well received

  • Opposition Labour on course for landslide UK election victory, poll predicts

  • Charts; bullish 5 and 10-day moving average cross suggests a base is forming

  • 1.2067, 38.2% of the 2022-2023 rise is key support - resilient last week

  • Close above the falling 1.2276 21-day moving average would end the downtrend

  • A topside break would target the 1.2439 200-day moving average

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Refinitiv IFR Research/Market Commentary


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