Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Apr 01 - 09:55 PM

GBP/USD - Targets 1.2500 As UK Inflationary Pressures Ease

By Andrew M Spencer  —  Apr 01 - 07:45 PM
  • Steady after closing -0.6%, as strong ISM took UST yields and the USD higher

  • UK shop price growth was the lowest since Dec 2021, +1.3% Y/Y March v's 2.5%

  • BRC data will be good news for the Bank of England as inflation softens

  • Charts; 5, 10 & 21-day moving averages ease with daily momentum studies

  • 21-day Bollinger bands expand - daily charts retain a negative bias

  • 1.2536 Feb 14 low is initial support, break targets the 1.2517 2024 base

  • Strong range support above 1.2500 - 1.2501 Dec base, 1.2517 2024 low

  • Close above the March 22 1.2677 high would suggest a base is in place

  • A close below 1.2500 would target 1.2469, 50% of the October/March rise

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2024 eFXdata · All Rights Reserved
!