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Nov 04 - 04:55 PM

GBP/USD - Slammed After Lofty BoE Hike Expectations Dialed Back

By Paul Spirgel  —  Nov 04 - 01:52 PM
  • GBP/USD slips into NorAm close -1.44% at 1.3492; NorAm range 1.3652-1.3472

  • BoE hike expectations severely diminished, 2-yr gilts -22bps weighs on GBP

  • Odds for Dec BoE hike cut to 41% BOEWATCH, UK short-stg front end +24bps

  • BoE pass on rate hike sinks GBP, 2021 low at 1.3412 in focus nL1N2RV151

  • GBP/USD supt just ahead of lwr 30-d Bolli at 1.3457, then 1.3412 2021 low

  • Bulls need to regain daily cloud (1.3698-23) to stem bearish tide

  • A rise abv Oct 19-21 dbl top by 1.3834, 200DMA 1.3850 cedes control to bulls

  • EUR/GBP rose 0.88% to 0.8589, Thurs range 0.8565-0.8466; converging BoE-ECB rate views favors EUR longs

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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