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Nov 14 - 08:55 PM

GBP/USD - Uptrend Stalled, As The U.S. Dollar Bounced

By Andrew M Spencer  —  Nov 14 - 06:35 PM

  • -0.05%, extending Monday's 0.65% loss, amid risk off broad USD strength

  • Plenty of speculation in the press on the contents of the mini budget

  • The policy make up is not known, but all agree it will be a tough budget

  • Charts, an inside day, as the recent sterling bounce stalled

  • Daily momentum studies, 5, 10 & 21 day moving averages head higher

  • 21 day Bollinger bands expand - a strong positive technical setup

  • Signals target a test of 1.2038, 50% 2022 fall then 1.2291 August high

  • 1.1713 NY low then Friday's 1.0650 base are initial supports

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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