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Oct 26 - 03:55 PM
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GBP/USD - Rangebound Between 100- And 10-DMAs Ahead Of UK Budget, Fed Decision
By Refinitiv — Oct 26 - 01:50 PM
• GBP$ down a touch in NY afternoon trade, -0.1% at 1.3355; NorAm range 1.3357-1.3326
• Pair supported in early NorAm by the rising 10-DMA currently at 1.3326 as risk rallies
• Long-end gilt yields a lower relieves some fiscal concerns ahead of key UK Autumn Budget Oct 28
• Oil off session lows, Nasdaq much higher hints at better outlook for risk broadly, for now
• GBP net spec IMM short remains 3rd largest USD long behind EUR & AUD; Fed Wednesday in focus
• GBP$ res 1.3389 the 100-DMA, 1.3406 50% Fib of 1.3675-1.3137, 1.3470 area daily cloud twist area
• Supt 1.3326 Mon low/10-DMA, 1.3300 psychological lvl,
1.3268 daily low Oct 16
GBP Chart:
(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters