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Apr 24 - 01:55 PM

GBP/USD - Consolidates After Rebound, Focus On U.S. GDP

By Justin Mcqueen  —  Apr 24 - 01:25 PM
  • Sterling largely consolidating recent rebound, EUR/GBP holds below 0.86

  • While rate differentials are supportive of this bounce back in cable

  • GBP/USD longs are not out of the woods. Short-term flows are USD supportive

  • Meanwhile, risks to U.S. GDP are tilted to a topside surprise

  • Resistance remains situated at 1.25. Support resides at 1.23

  • Elsewhere, a 1bln pound option expiry (Fri) at 1.2430 may attract

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Refinitiv IFR Research/Market Commentary


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