Derived Data That Drive Results
By Paul Spirgel — Dec 22 - 01:05 PM
GBP$ ending NorAm -0.5% at 1.2024; NorAm range 1.2060-1.1993
Sterling leads major CCYs lower versus USD after UK GDP miss
UK inflation-recession conundrum leaves BoE w/no good choices
GBP$ close below 200-DMA (1.2082) opens way for test of Nov 30 low at 1.19
A move sub-1.1799 the 50% Fib of 1.1151-1.2446 shifts momentum to GBP bears
Res at 1.2053 the 10-HMA, 1.2146 Thursday high, 1.2209 the 10-DMA
EUR/GBP +0.28% at 0.8804, Thurs range 0.8832-0.8767; cross at Nov high after soft UK data
Source:
Refinitiv IFR Research/Market Commentary
