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Oct 16 - 09:55 PM

GBP/USD - USD-Down On Higher Sterling, E-Minis, While UST Yields Ease

By Andrew M Spencer  —  Oct 16 - 09:15 PM

  • Off 0.25%, led by GBP strength +0.6% after UK fin min u-turn nL8N31H0EG

  • OPEC+ members endorse output cut despite U.S. coercion claim nL1N31H08K

  • Oil prices appear to have a base around USD 80 while OPEC+ pricing holds

  • Brent +1%, positive U.S. markets, E-mini S&P +0.4%, 10yr UST -3bp to 3.994%

  • Charts; 21 day Bollinger bands contract, neutral momentum studies

  • 5, 10 & 21 day moving averages coil - neutral setup short term

  • Longer term weekly and monthly moving averages track north

  • NY 112.37-113.42 range is initial support and resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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