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Aug 22 - 09:55 PM

GBP/USD - Heavy As Recession Fears Grow Amid Soaring Inflation

By Andrew M Spencer  —  Aug 22 - 08:00 PM

  • Steady after closing -0.55% - lowest close since March 2020 - USD led

  • Energy security and soaring gas prices fuel UK recession fears nL1N2ZY0BW

  • Citi economist expect UK inflation to peak at 18.6% in January nL8N2ZY3GV

  • Data and events add to the pressure for strong hikes by the Bank of England

  • BOEWATCH prices a 50 pt 15th September hike to 2.25% at 68.4%, 75 pt 31.6%

  • Charts: daily momentum studies, 5, 10 & 21 day and week moving averages fall

  • 21 day Bollinger bands expand - strong bearish trending setup

  • Close below 1.1761 July low would target 1.1413 march 2020 base

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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