By Justin Mcqueen — May 11 - 12:15 PM
Risk aversion trumps BoE as sterling reverses initial advance
BoE's Bailey hopes end of rate hikes is near. Data will decide 0#BOEWATCH
U.S. regional banking concerns, soft Chinese data sparks flight to safety
Strong reversal from post-BoE low (0.8662) is a concern for EUR/GBP shorts
Prior support at 0.8720 (Jan/Mar lows) and 0.8737 (200DMA) now resistance
Shorts need 200DMA to hold to renew focus towards 0.8600
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary