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Oct 16 - 01:55 AM

GBP/USD - UK Inflation Data Is Pivotal For BoE Expectations

By Andrew M Spencer  —  Oct 15 - 11:15 PM
  • Trades at the top of a busy 1.3060-1.3077 range on LSEG FX Matching

  • Risk 'off' Asian stocks, Nikkei -1.95%, AsiaxJP -0.6% supported the USD

  • Sentiment driven by falls on Wall Street and lack of China stimulus detail

  • UK inflation data will be key for BoE expectations - Core CPI Y/Y poll 3.4%

  • Charts- negative daily momentum studies as 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages edge lower above resilient Fibo support

  • 1.3002 Sept low provides a base - 1.2900, 0.382% Apr-Sep rise next support

  • 1.3085 10-DMA is close then the 1.3133 high last week is first resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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