By Paul Spirgel — Nov 17 - 01:05 PM
GBP$ firm into NorAm close, +0.17% at 1.2432; Friday range 1.2440-1.2375
Pair soft early after weak UK retail sales, rebounds on more-dovish Fed view
US rates trump everything else as sterling gasps for air nL1N3CI1FJ
IRPR shows near-75% odds for Fed cut in May, 1st full BoE cut in Jun 2024
GBP$ res at 1.2440 Fri high, 1.2444 200-DMA, 1.2506 Daily High Nov 16
Support 1.2408 10-HMA, 1.2375 Friday Low, 1.2341 10-DMA
Double tops this week by 200-DMA and 1.25 cap mkt; close abv 100-DMA bullish
Support Thurs/Fri in mid-1.2370's, below puts 1.2288 50% of 1.2070-1.2506 in focus
Source:
Refinitiv IFR Research/Market Commentary