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Nov 07 - 07:55 PM

GBP/USD - Key Support Held But Sterling Remains Vulnerable

By Andrew M Spencer  —  Nov 07 - 06:27 PM

  • Steady after closing -0.1%, despite the USD closing a touch softer

  • UK seems set to invoke emergency measures on N Ireland trade nL1N2RY07B

  • If the UK activate Article 16 it would open the door to a EU/UK trade war

  • PM's ratings at all time lows as corruption accusations swirl nL8N2RY09I

  • Charts 5, 10 & 21 DMAs track lower, while 21 day Bollinger bands expand

  • Bearish trending setup in place while 1.3682 21 DMA holds

  • 1.3412-19 a base Friday, September low and 38.2% of May 2020-June 2021 rise

  • London 1.3425-1.3509 range is initial support and resistance

For more click on FXBUZ


data Nov 8 Click here

Source:
Refinitiv IFR Research/Market Commentary

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