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May 04 - 03:55 PM

GBP/USD - Slide Pared Into NY Close, Traders Anxious Ahead Of BoE Thursday

By Paul Spirgel  —  May 04 - 01:43 PM
  • GBP/USD early slide pared ending NorAm 1.3890, -0.12%; NY range 1.3895-40

  • Pair firm ahead of BoE Thursday, bulls hope for hawkish hold; APP taper talk

  • Sterling bulls see red above 1.3900, reduce longs ahead of BoE nL1N2MR150

  • Cloud twist magnetic, GBP loath to test lwr half of range sub-30DMA 1.3829

  • Hawkish BoE may prompt test of upper 30d Bolli 1.2993, Feb 26 high 1.4021

  • Below 30-DMA eyes minor fib support by 1.3799, then 100-DMA at 1.3772

  • EUR/GBP -0.27% to 0.8649, Tues range 0.8688-47; EUR broadly soft vs USD, GBP

  • Yellen stimulus-related inflation talk nL1N2MR1GQ, hawkish BoE tones trump steady EZ rate/taper view

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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