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Nov 11 - 10:55 PM

GBP/USD - Heavy On Broad US Dollar Strength Into UK Jobs

By Andrew M Spencer  —  Nov 11 - 10:00 PM
  • Off 0.15% at the base of a quiet 1.2849-1.2873 range on LSEG FX Matching

  • Employment leads today's UK data, a major factor in the BoE's rate outlook

  • BoE Chief Economist Huw Pill speaks - unlikely to contradict Friday's view

  • Charts - daily momentum studies slip, 21-day Bollinger bands gently ease

  • 5, 10 & 21-day moving averages edge lower - daily signals are negative

  • Bearish setup suggests further losses - on USD strength not GBP weakness

  • Last week's 1.2835 base, then 1.2732 0.618% Apr/Sep rise initial supports

  • Monday's 1.2925 top then last week's 1.3046 high are first resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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