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Apr 11 - 05:55 PM

GBP/USD - Slide Stalls Again Ahead December Lows Ahead Of 1.25

By Paul Spirgel  —  Apr 11 - 02:20 PM
  • GBP$ ekes out gain +0.12% at 1.2556 into NY cls; Thurs range 1.2579-11

  • Pair soft into Lon fix, trades new 2024 low 1.2511 after ECB hold, US PPI

  • UST yields lower, but hover near post-CPI highs amid US-UK rate divergence

  • Trepidation accompanies stability for sterling nL2N3GK1M4

  • April 17 UK CPI/PPI in focus for hints at near-term BoE policy path

  • GBP$ res at 200-DMA 1.2586, 1.2610 50% Fib of 1.2709-1.2511, 1.2649 21-DMA

  • Support 1.2511 Thurs low, 1.2501 Dec 13 trend low, 1.2482 weekly base line

Source:
Refinitiv IFR Research/Market Commentary

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