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Nov 09 - 01:55 PM

GBP/USD - Bulls Hit Resistance Above 1.36, Ahead Of The Daily Cloud Base

By Paul Spirgel  —  Nov 09 - 01:19 PM
  • GBP/USD ending NorAm near flat at 1.3562; Tuesday range 1.3608-1.3524

  • Pair shrugged off mostly on-target US PPI data, awaits Wed CPI release

  • Sterling gains tempered ahead of key US inflation data nL1N2S01EF

  • UK short-sterling off post-BoE lows, ECB Dec hikes odds abv 50% BOEWATCH

  • Traders defensive ahead of Thurs UK Q3 GDP, res by daily cloud base 1.3622

  • More significant res at 1.3630, the 50% Fib of 1.3834-1.3425

  • Cloud twist on Nov 24 attracts near 1.3665, then 100-DMA by 1.3753

  • Support at lower 30-d Bolli by 1.3440 & 2021's low at 1.3412 hit on Sept 29

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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