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Jan 19 - 03:55 PM

GBP/USD - Early Sterling Slide Reversed, Recent Trend High At 1.2446 Remain In Focus

By Paul Spirgel  —  Jan 19 - 01:35 PM
  • GBP/USD ending NorAm near session high +0.23% at 1.2375; NY range 1.2378-20

  • GBP$ firm despite higher UST yields; BoE seen hawkish amid high UK inflation

  • Sterling bulls may charge at Fibo level again soon nL1N3441EN

  • IRPR on Eikon indicates 71% odds for BoE +50bp Feb 2, Fed seen +25bp Feb 1

  • Shallow GBP$ dip hints at pot'l for further gains

  • Res at 1.2404's upper 30-d Bolli, 1.2435 Wed high, 1.2446 Dec 14 trend high

  • Support 1.2314 Thurs low, 1.2262 daily Tenkan line, 1.2223 10-DMA

  • EUR/GBP flat on the day, Thurs range 0.8786-23; Lagarde, ECB Accts tipped hawkish

Source:
Refinitiv IFR Research/Market Commentary

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