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Feb 16 - 01:55 PM

GBP/USD - On Backfoot, Supported By Feb Low 1.1962 Ahead Of UK Retail Sales

By Paul Spirgel  —  Feb 16 - 01:20 PM
  • GBP$ ending NorAm -0.12% at 1.2020; NorAm range 1.2056-1.1966

  • Pair bounces ahead of post-PPI low 1.1966 ahead of Feb 7 low 1.1962

  • Sterling eyes February lows after US PPI stokes hawkish Fed views

  • Friday's UK retail sales in focus for clues on BoE rate policy path

  • Dour UK data may step-up Fed-BoE rate divergence sending GBP lower

  • Supt 1.1962 Feb 7 low, 1.1943 200DMA, 1.1896 100DMA, 1.1798 daily cloud base

  • Res 1.2024 10-HMA, 1.2075 Thursday high/10-DMA area, 1.2183 55-DMA,

  • GBP bears in control below 1.2205's 50% Fib of 1.2448-1.1962

Source:
Refinitiv IFR Research/Market Commentary

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