By Paul Spirgel — Aug 28 - 01:40 PM
GBP$ ending NorAm +0.16% at 1.2594; NorAm range 1.2599-73
U.S. Treasury yields off early NorAm high provides slight boost
UK bank holiday, end of summer liquidity keeps flows relatively light
Sterling shrugs off hawkish Powell as the BoE's rate path trumps Fed
Despite recent inflation dip UK rates seen higher for longer than US IRPR
GBP$ supt Mon low 1.2568, lwr 30-d Bolli 1.2562, Fri trend low 1.2548
Below 1.2548 GBP bears target the 200-DMA at 1.2404
Res 1.2609 Monday high, 1.2642 100-DMA, 10-DMA at 1.2692
GBP remain wary of the thickening daily cloud spanning 1.2726-1.2920
Source:
Refinitiv IFR Research/Market Commentary