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Nov 10 - 05:55 AM

GBP/USD - Holds Above Main Support Levels Ahead CPI Data

By Jeremy Boulton  —  Nov 10 - 04:10 AM
  • Abrupt reverse saw GBP/USD plummet 1.1562-1.1335 on Wednesday

  • Wed's GBP/USD close was 1.1360 - below 55-DMA then 1.1363

  • Thursday's range 1.1358-1.1412 - above 55-DMA now 1.1355

  • Thick daily Ichimoku cloud 1.1310-1.0971 is potentially strong support

  • 100-DMA 1.1663 - just above Oct peak at 1.1645 - looks pivotal on upside

  • U.S. CPI seen 8.0% yy from 8.2% is released at 13.30GMT



Source:
Refinitiv IFR Research/Market Commentary

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