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Nov 19 - 03:55 PM

GBP/USD - Sleds In Familiar Territory Between 1.26 And 1.27 Ahead Of UK CPI

By Paul Spirgel  —  Nov 19 - 01:35 PM
  • GBP$ slightly lower in NY afternoon, -0.1% at 1.2665; Tues range 1.2689-15

  • Wednesday UK CPI eyed for clues at UK prices; may impact Dec BoE cut odds

  • Pair caught b/w 1.26/1.27 this week amid fluid U.S. politics & geopolitics

  • Geopolitical concerns leave sterling bulls frustrated again by 1.27

  • Marts on edge amid Trump trades and fluid Fed policy expectations

  • GBP$ res 1.2689 Tues high, 1.2720 Nov 14 high, 1.2774 falling 10-DMA

  • Supt 1.2615 Tues low, 1.2598 daily low Nov 15, 1.2573 weekly cloud base

  • Note 10-dma below 200-DMA and 30-DMA below 100-DMA bearish crosses hint at offered tone

Source:
Refinitiv IFR Research/Market Commentary

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