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May 26 - 03:55 PM

GBP/USD - Dip Below 10-DMA Puts 21-DMA At 1.4046 In Sharper Focus

By Paul Spirgel  —  May 26 - 01:37 PM
  • GBP/USD soft into NY close -024% at 1.4115; NorAm range 1.4174-1.4115

  • UST yields firm into close, on converging glbl rate view, aids USD lift

  • GBP weathers Cummings, 10-day avg test, still under cbank sway nL2N2ND1AM

  • Close below 10-DMA (1.4136) puts minor Fib supt at 1.41, 30-DMA 1.40 in view

  • GBP bullish fervor ebbs after fails above 1.42, ahead of 2021 high 1.4240

  • EUR/GBP -0.23% at 0.8636, Wed range 0.8659-32; dovish Panetta, Lagarde stalls EUR rise nL2N2ND0DE

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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