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Jan 20 - 01:55 PM

GBP/USD - Ends NorAm Near Session High As Traders Await Policy Moves

By Paul Spirgel  —  Jan 20 - 01:30 PM
  • GBP$ ending Fri trade a tad soft by 1.2378, NorAm range 1.2397-36

  • Pair put in 1.2435-1.2171 range this week, 1.24 has remained magnetic

  • Sterling bulls wary of 1.24, hopeful BoE stays on hawkish path nL1N3451BG

  • Early Feb Fed, BoE meetings in focus, but first US core PCE Jan 26

  • Fed seen +25bp, BoE 66% odds for +50 lends supt to GBP$; Dec 14s 1.2446 eyed

  • Res at upper 21-d Bolli 1.2421, Dec high 1.2446, May/June wkly top by 1.2660

  • Supt 1.2335 Fri low, 1.2254 10-DMA, daily cloud top & 30/21-DMAs by 1.2160

  • EUR/GBP +0.1% at 0.8754, Friday range 0.8786-44; EUR firm as ECB seen more united on high rates

Source:
Refinitiv IFR Research/Market Commentary

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