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Mar 29 - 03:55 PM

GBP/USD - Ekes Out Small Gain After US Core PCE, In Light Holiday Trading

By Paul Spirgel  —  Mar 29 - 12:25 PM
  • GBP$ ending NorAm +0.08% at 1.2632; Friday range 1.2645-10

  • Trading muted owing to equity/bond market closures, holiday liquidity drain

  • Pair rallied after highly anticipated U.S. core PCE came in on-target

  • Powell talk keeps current high-rate Fed narrative intact; all about data

  • USD bid ahead of data, month-end & holiday ebbs into Friday close

  • Support at 1.2610 Friday low, 1.2588 200-DMA, 1.2550 lower 30-d Bolli

  • Res 1.2635 bruised cloud base, 1.2657 100DMA, 1.2689 daily conversion line

Source:
Refinitiv IFR Research/Market Commentary

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