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May 10 - 04:55 PM

GBP/USD - Test Of 1.25 Support Post-UMich Data Reversed, 200-DMA In Focus

By Paul Spirgel  —  May 10 - 01:50 PM
  • GBP$ ekes out slight gain +0.1% at 1.2535; Friday range 1.2541-1.2503

  • Post-UMich GBP$ slide reversed into close; 200-DMA at 1.2543 caps

  • Sterling needs help to prolong post-BoE rebound nL1N3HD1CX

  • US/UK CPI May 15/22 in focus for more material clues on c.bank policy

  • GBP$ res 200-DMA 1.2543, 1.2569 May 7 high, 1.2596 50% of 1.2894-1.2299

  • Close above 1.2596 shifts momentum to GBP bulls; 100-DMA at 1.2637 targeted

  • Support 1.2503 Friday low, 1.2483 21-DMA, 1.2446 May 9 low

Source:
Refinitiv IFR Research/Market Commentary

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