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Nov 25 - 01:55 AM

GBP/USD - Bargain Hunting, But Downtrend Remains Strong

By Andrew M Spencer  —  Nov 24 - 10:21 PM

  • +0.1% towards the top of an active 1.3327-1.3344 range with the USD softer

  • UK to expand global development finance investment to boost offshore growth

  • Part of the plan to diversify UK income in the post Brexit era nL8N2SF4JN

  • Charts - 5, 10 & 21 daily and weekly moving averages all head lower

  • 21 day Bollinger bands slide - strong bearish trending setup back in play

  • Close above 1.3498 21 day moving average would end the downside bias

  • Initial significant support comes in at 1.3166, 38.2% 2020-21 rise

For more click on FXBUZ


gbp 2 Nov 25 Click here

Source:
Refinitiv IFR Research/Market Commentary

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