By Andrew M Spencer — Apr 17 - 08:05 PM
Flat after closing up 0.25% with the US dollar closing 0.35% lower
UK inflation slowed less than forecast but met Bank of England expectations
BOEWATCH fully prices 28bp of cuts in September and 45.48bp by December
There is no tier one UK data or events today, so risk appetite, USD lead GBP
Charts; 5, 10 & 21 day moving averages fall with the 21-day Bollinger bands
Daily momentum studies slip - daily charts still show a strong bearish trend
Move targets 1.2369, 0.618% Oct-March rise, and then the 1.2045 Oct 23 base
1.2482 early London high then Monday's 1.2498 high are initial resistances
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary