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Apr 12 - 03:55 PM

GBP/USD - Slides Unabated As High For Longer Fed Trumps More Dovish BoE Outlook

By Paul Spirgel  —  Apr 12 - 01:50 PM
  • GBP$ soft into week's end, -0.84% to 1.2447; Fri range 1.2558-1.2427

  • No rest for sellers this week, weekly range 1.2709-1.2427

  • Hawkish Fed expectations relative to BoE post-US CPI boosted USD

  • April 17 UK CPI/PPI data in focus for clues at UK inflation, BoE policy path

  • Focus on firm Fed keeps sterling vulnerable nL2N3GL1D4

  • Close below 1.2482, 50% Fib of 1.2070-1.2894 adds to bearish GBP structure

  • Supt at 1.2427 Friday low, 1.2385 61.8% Fib of 1.2070-1.2894, 1.2291 100-WMA

  • Res 1.2488 lower 30-d Bolli, 1.2558 Friday high, 1.2584 200-DMA

Source:
Refinitiv IFR Research/Market Commentary

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