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May 21 - 12:12 PM

GBP/USD - Bulls Run Out Of Gas Above 10-DMA By 1.2262, Again

By Paul Spirgel  —  May 20 - 01:35 PM
  • GBP/USD soft in NY aft -0.16% at 1.2230; NorAm range 1.2287-1.2226

  • Bailey waffling on neg rates nL9N2CP00D, Barnier on trade nL1N2D2137

  • Reduced COVID-19 angst helps sterling brush aside Brexit doubts nL1N2D20YA

  • Resistance abv 10DMA 1.2261, 55DMA 1.2346, 21DMA 1.2348; 200DMA caps 1.2626

  • EUR/GBP rises +0.53% at 0.8972, 7-wk high, Wed range 0.8977-14; Franco-German aid talk boosts EUR

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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