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Jun 20 - 04:55 AM

GBP/USD - Holds Above 1.22 After Last Week's Forceful Moves

By Rob Howard  —  Jun 20 - 02:55 AM
  • Cable has held above 1.2200 thus far Monday; 1.2253 marks the intra-day high

  • Calm follows last week's volatility storm either side of Fed/BoE event risks

  • 1.2174 was Friday's low, four pips shy of 50% retracement of 1.1934-1.2405

  • 1.1934 = lowest level since March 2020 (pre-Fed). 1.2405 was post-BoE high

  • Event risks this week include UK CPI data and Powell testimony on Wednesday

  • UK May CPI f/c 9.1% YY vs 9.0% in April (BoE expects 11% UK CPI in October)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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