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Oct 30 - 09:55 PM

GBP/USD - Settles Above The Recent Base As Budget Fears Recede

By Andrew M Spencer  —  Oct 30 - 08:35 PM
  • -0.05% after closing off 0.4% with the USD down 0.15%, EUR/GBP +0.75%

  • UK Fin Min Reeves raises taxes by most since 1993 in her first budget

  • 10yr gilt closed up 4bp to 4.351% on TWEB - 10yr UST +2bp 4.292% on TWEB

  • EUR/GBP fell on broad EUR strength - UK market volatile, but no panic

  • Charts - horizontal daily momentum studies, 21-day Bollinger bands contract

  • 5, 10 & 21-day moving averages slip - signals show no significant bias

  • Yesterday's 1.2936 low then the 1.2908 Oct base are initial supports

  • Wednesday's 1.3043 high then the 1.3058 top last week are first resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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