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Feb 17 - 01:55 PM

GBP/USD - Off Session Low 1.1915 As Hawkish Fed View Tempers Pre-Holiday

By Paul Spirgel  —  Feb 17 - 01:25 PM
  • GBP$ firm into NY close +0.3% at 1.2027; NorAm range 1.2038-1.1922

  • Early GBP weakness on rising Fed rate outlook reversed after Imp/Exp data

  • Barkin: Not much signal in recent elevated jobs, retail numbers nL1N34X1FT

  • Sterling eyes 2023 low as hawkish Fed trumps BoE view nL1N34X1AV

  • Bearish structure intact as Fed terminal rate hovers near 5.30% 0#FF:

  • Dip in UK prices to 10.1% boosts dovish BoE view, low growth back in focus

  • GBP$ res Fri high 1.2038, 1.2092 50% Fib of 1.2269-1.1915 Feb range

  • Abv 1.2092 aids bullish outlook; 55DMA at 1.2178, Feb 15 high 1.2269 in view

  • Supt 1.1924 lower 30-h Bolli, 1.1915 Fri low, 1.1842 2023 daily low Jan 6

Source:
Refinitiv IFR Research/Market Commentary

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