By Paul Spirgel — May 20 - 01:35 PM
Sterling ending Noram near flat at 1.2470, NorAm range 1.2500-1.2452
Risk rise after China rate move unravels; marts wary of slowing growth
UK ret sales beat highlights potential bullish sterling shift nL2N2XC10Q
Upbeat UK orders, retail sales data reduces UK recession fears
Bulls cling to 21-DMA supt by 1.2453, below target 10-DMa at 1.2345
Res at Friday high 1.2500, Thursday high 1.2523; abv 30-DMA 1.2630 targeted
Bulls gain momentum above 1.2652, 50% Fib of 1.3147-1.2156
EUR/GBP -0.32% at 0.8462, Fri range 0.8496-50; glbl growth fears more pronounced for low rate EUR
GBP Chart: Click here
Source:
Refinitiv IFR Research/Market Commentary