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TDUX
May 01 - 01:55 AM

GBP/USD - Holds Gains Ahead Of Long Weekend

By Krishna Kumar  —  Apr 30 - 11:35 PM

• GBP/USD steady in Asia, hovers near a more than 2-month high traded on Thu

• Supported by broadly weaker dollar on Japanese intervention to boost JPY

• Buoyant risk appetite, lower oil prices boosted GBP; Dow up 1.2% at close

• BoE 's hawkish hold also buoys pound as bank warns on inflation threat

• Resistance at 1.3597, 61.8% Fibo of Jan-Mar decline being eroded

• Further resistance at 1.3650-60, 1.3700; support 1.3570-75, 1.3530-40

• Holidays in Asia limit activity; only Japan, Australia, New Zealand open Fri

• UK markets closed on Monday for early May bank holiday

• Range Thursday 1.3456-1.3612, Asia 1.3600-1.3609
GBP:


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters
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