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Nov 12 - 03:55 PM

GBP/USD - Losses Extended As 200-DMA Support Gives Way

By Paul Spirgel  —  Nov 12 - 01:40 PM
  • GBP$ soft in NY afternoon, -1.04% at 1.2735; NorAm range 1.2826-1.2719

  • Break below 200-DMA at 1.2819 intensifies offered tone of GBP$

  • IMM positioning hints at long bias, likely pared significantly post-election

  • Sterling bulls may just have grin and bear the Trump trade nL1N3MJ0QK

  • UK STIR view above US into '25 holds no sway as USD tracks UST yields

  • GBP$ supt 1.2719 Tuesday low, 1.2666 daily low Aug 8, 1.2601 the 100-WMA

  • Res 1.2785 falling 10-HMA, 1.2819 the 200-DMA (Fmr supt), 1.2874 Tues high

Source:
Refinitiv IFR Research/Market Commentary

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