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Nov 12 - 10:55 PM

GBP/USD - Strong Pay Growth Supports Rates 'Higher For Longer'

By Andrew M Spencer  —  Nov 12 - 10:10 PM
  • Unchanged in a 1.2225-1.2236 range in a quiet start to the FX week in Asia

  • Strong pay growth in the UK private sector spreads to the public sector

  • Data underscores the Bank of England's 'higher for longer' rate expectations

  • No significant data in London, so risk appetite and the USD to lead sterling

  • Charts; momentum studies slip, 5, 10, and 21-day moving averages coil

  • 21-day Bollinger bands edge higher - neutral setup suggests consolidation

  • Last week's 1.2428 high and 1.2436 200-day moving average a likely range top

  • The 1.2187 NY low, and then the 1.2096 November base are initial supports

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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