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Nov 13 - 07:55 AM

GBP/USD - Little Relief For Sterling Following Key Technical Break

By Peter Stoneham  —  Nov 13 - 06:10 AM
  • A slowing of the fall from 1.3046 Nov. 6 high

  • Tight 1.2730-1.2756 range Wed: just above 1.2719 Tues and trend low

  • Underlying bear trend still in place: strengthened after 200DMA break

  • No sign of a drag from a Nov. 26 1.3088-98 Ichimoku cloud twist

  • Bears can target the 1.2667 Aug. 8 low and 1.2567 76.4% Fibo: 1.2299-1.3434

  • Resistance levels are at Mon-Tues highs, 1.2873 and 1.2925, respectively

  • Risk sentiment and dollar moves the main drivers for the GBP market

  • UK outlines a National Health Service overhaul after the budget investment

  • BoE hawk flags topside risks to inflation nL1N3MK0E5

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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