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Oct 13 - 11:55 PM

GBP/USD - Risk 'On' As Fin Min Kwarteng Heads Home Early

By Andrew M Spencer  —  Oct 13 - 10:40 PM

  • Trades +0.05%, near the top of a busy 1.1292-1.1358 D3 range

  • UK's Fin Min Kwarteng heads home early from Washington nL8N31E19W

  • Fuels speculation that a policy u-turn is close, though he denies it

  • Optimism on a u-turn spread to broad based risk on, E-mini S&P +0.5%

  • Firmer commodities, Asian stocks show solid gains, UST yields lower

  • Charts, positive daily momentum studies, 21 day Bollinger bands contract

  • 5, 10 & 21 day moving averages conflict - a neutral setup on daily charts

  • Asian 1.1292 low and NY 1.1380 high are initial support and resistance

  • 1.0772 61.8% Sep/Oct rise and 1.1541 61.8% Aug/Sep fall are key levels

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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