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Sep 27 - 05:55 PM

GBP/USD - Bounces Toward Friday's High, But BOE Lift Has Limits

By Randolph Donney  —  Sep 27 - 03:00 PM

  • GBP/USD rebounded toward Friday's 1.3736 high, but major hurdles above

  • Daily kijun, cloud base and 50% Fibo of Sept's slide are all at 1.3761

  • Gilt yields and FTSE up, but supply, energy shortages iffy factors

  • BOE rate rise priced for February as BOE weighs inflation risk

  • Cable downside limited by July, Aug & Sept lows near 23.6% Fibo nL1N2QT1GE

  • Fed looks likely to lift rates in H2 2022, expand L-T Tsy-Gilt yld spreads

  • Risk-sensitive pound need markets to not go risk-off again on China concerns

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Source:
Refinitiv IFR Research/Market Commentary

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