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May 21 - 08:55 AM

GBP/USD - Eyes Two-Month High Before BoE's Bailey Speaks

By Rob Howard  —  May 21 - 06:40 AM
  • Cable eyes 1.2725 resistance level before BoE's Bailey speaks at 1700 GMT

  • 1.2725 was Monday's two-month high. 1.2750 and 1.2800 are obstacles beyond

  • Support points include 1.2700. UK CPI data due 0600 GMT Wednesday; 2.1% f/c

  • UK grocery price inflation falls to 2.4%, lowest since Oct 2021, says Kantar

  • UK CBI manufacturing orders book balance minus 33 vs minus 20 forecast

  • IMF warns Britain against more pre-election tax cuts nS8N3D00B2

Source:
Refinitiv IFR Research/Market Commentary

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