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Oct 26 - 11:55 PM

GBP/USD - Sterling On Hold Pre Budget In An Interesting Session

By Andrew M Spencer  —  Oct 26 - 11:10 PM

  • Touch firmer in a 1.3765-1.3777 range with decent interest pre budget

  • 2yr UST yields jumped 5bp to 0.497% fresh high, Asian stocks fell - risk off

  • Unusual moves - rate decisions in Canada, Japan and the EU, plus month end

  • UK's budget has been widely leaked - unlikely to surprise nL8N2RL53X

  • Charts; 10 & 21 day moving averages climb, 21 day Bollinger bands rise

  • Daily momentum studies conflict - bullish setup while 1.3760 10 DMA holds

  • Close below 1.3760 would target a test of 1.3664 21 day moving average

  • 1.3831, 50% of 2021 fall capped last week - break to test 1.3913 Sep high

    For more click on FXBUZ


gbp 2 Oct 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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