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TDUX
Oct 29 - 02:55 AM
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GBP/USD - Carves Out A Range, Firmer After Bounce From Support

By Krishna Kumar  —  Oct 28 - 11:29 PM

• GBP/USD unchanged in Asia after trading in a 1.3274-1.33385 range on Wed

• Dropped to 1.3306 from 1.3329 New York close before rallying to 1.3335

• Supported by decline in US yields; 10 and 30-yr yields drop 5 bps in Asia

• Buoyed by Fed's patient stance on rates as it awaits further inflation data

• UK budget seen as fiscally credible but largely taken in stride

• US GDP, PCE data Thu in focus; US midterms, BoE rate decision next week key

• Consolidation in 1.3275-1.3400 range likely as risk events loom

• Support 1.3305, stronger at 1.3275-85, resistance 1.3350, 1.3390-1.3400
GBP:


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters
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