By Rob Howard — Nov 15 - 11:55 AM
Cable runs into resistance ahead of 1.2648 after modest rally from 1.2615
Lift aided by some profit-taking on shorts after June low respected
1.2648 was Thursday's NY afternoon low (after USD rose on Powell guidance)
GBP/USD broke below 1.2648 following strong US data earlier nL1N3MM0GK
1.2700 and 1.2719 (Thursday high/Tuesday low) are obstacles beyond 1.2648
UK Oct inflation data due on Nov 20; CPI forecast at 2.2% YY (Reuters poll)
Source:
Refinitiv IFR Research/Market Commentary