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Jun 09 - 01:55 PM

GBP/USD - Slips In Sympathy With Euro After Dovish ECB Hold

By Paul Spirgel  —  Jun 09 - 01:25 PM
  • GBP$ slips into the NY close -0.15% at 1.2520; NorAm range 1.2557-09

  • Pair whipsawed after ECB hold, less-hawkish outlook for July nL1N2XW16V

  • Sterling steady, still looking lower after post-ECB whipsaw nL1N2XW1ED

  • GBP$ bulls remain wary ahead of 1.26, res 1.2616 Jun 1 high, 10-WMA 1.2624

  • Support at 21-DMA 1.25, 30-DMA 1.2477, 1.2411 50% Fib of 1.2156-1.2667

  • A close below 1.2411 puts May 17 low 1.2321 and 2022 low at 1.2156 in focus

  • EUR/GBP ending NY -0.36% at 0.8507; cross hit after ECB hold, nod to 'only' +25bp in July

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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