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Sep 19 - 05:55 PM

GBP/USD - Support Holds Ahead Of 2022 Low, GBP Shorts Lighten Pre-Fed, BoE

By Paul Spirgel  —  Sep 19 - 01:50 PM
  • GBP/USD higher into NY close, -0.04% at 1.1412, Mon range 1.1439-1.1356

  • Focus on Fed Wednesday, +75bp exp'd; and BoE Thursday +50bp exp'd

  • Sterling finds interim support but Fed-BoE contrast looms nL1N30Q14E

  • Tone for GBP/USD decidedly bearish amid rate divergence, energy, trade angst

  • GBP$ supt at 2022 low 1.1351, lower 30d Bolli 1.1249, late Mar '85 low 1.106

  • Res 1.1439 Monday high, 1.1469 100-HMA, 1.1516 10-DMA

  • EUR/GBP puts in new 19-month high 0.8786, ends NY flat at 0.8765

Source:
Refinitiv IFR Research/Market Commentary

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