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Nov 14 - 09:55 PM

GBP/USD - Potential Positive News, But Downtrend Is Strong

By Andrew M Spencer  —  Nov 14 - 07:39 PM

  • Steady after closing 0.4% higher, as risk currencies bounced and USD eased

  • BoE to be first major bank to hike rates - December even money nL8N2S238P

  • N.Ireland trade row resolution chances improve on UK's new tone nL1N2S30CW

  • A compromise on the N.Ireland issue would be a strong sterling positive

  • Charts 5, 10 & 21 daily and weekly MAs slide, 21 day Bollinger bands expand

  • Momentum studies track lower - trend targets 1.3162, 38.2% 2020-21 rise

  • 1.3524 10 DMA is initial significant resistance, 1.3649 21 DMA pivotal

  • 1.3366 lower 21 day Bollinger band and Friday's 1.3354 low first support

    For more click on FXBUZ


gbp Nov 15 Click here

Source:
Refinitiv IFR Research/Market Commentary

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