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Nov 03 - 01:55 AM

GBP/USD - Strong US Payrolls Could Derail Market Optimism

By Andrew M Spencer  —  Nov 02 - 11:10 PM
  • Steady in a 1.2185-1.2208 Asian range with only moderate interest in D3

  • Tokyo holiday and upcoming often volatile U.S. payrolls capped interest

  • Final services PMI is the only UK data - unlikely to impact on sterling

  • A strong U.S. payrolls could undermine confidence in no more Fed hikes

  • Charts; momentum studies, 5, 10 & 21-day moving averages head higher

  • 21-day Bollinger bands flat line - modest positive setup targets 1.2337

  • The October 1.2038-1.2337 range looks set to hold into next week

  • New York's 1.2167-1.2225 range is initial support and resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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