By Andrew M Spencer — Nov 04 - 10:00 PM
Steady in a 1.2950-1.2957 range in Asia, as markets await US election news
Retailers - UK consumer spending slowed before last week's budget
Barclay's economist Meaning - 'the stage is set for real spend growth'
BOE expected to cut 25bp to 4.75% on Thursday and to 4.5% in February
Charts - neutral daily momentum studies, 21-day Bollinger bands slip
5, 10 & 21-day moving averages ease - signals show a modest bearish bias
1.2844 October low, then the 1.2665 August base are initial supports
Thursday's 1.2999 top and last week's 1.3043 high are the first resistance
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Source:
Refinitiv IFR Research/Market Commentary