By Andrew M Spencer — Nov 16 - 06:55 PM
Steady after closing unchanged in a choppy USD-led offshore session
BoE's Ramsden and Greene underline the message of rates 'higher for longer'
Any rate cuts in 2024 will be data-driven - BoE likely reluctant initially
Tight sterling range likely in Asia ahead of Retail Sales at the London open
Charts; momentum studies rise, 5, 10, and 21-day moving averages climb
21-day Bollinger bands head higher - signals suggest further gains
1.2590 50% retracement of the July-October fall is a longer-term target
1.2327, 38.2% of Oct/Nov rise, and this week's 1.2506 top are key levels
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Source:
Refinitiv IFR Research/Market Commentary