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TDUX
Nov 13 - 01:55 AM
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GBP/USD - Perched Above 76.4% Fibo As Techincals Turn Negative

By Krishna Kumar  —  Nov 12 - 10:15 PM

• GBP/USD remains under pressure in Asia after closing 0.25% lower on Thursday

• Undermined by hawkish Fed expectations, risk aversion and broadly firmer USD

• Fading prospects for a Iran peace deal, higher oil prices, AI concerns weigh

• US PPI Fri, Sep UK employment and Oct inflation next week key for direction

• GBP threatens a weekly close below 1.3281, the 200-week MA which is bearish

• Key support at 1.3322, 76.4% Fibo retracement of Oct-Nov rally under threat

• Break opens 1.3137, October low; resistance 1.3270-80, 1.3330-40

• Thursday range 1.3223-1.3281, Asia 1.3229-1.32405
GBP:


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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