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Sep 01 - 01:55 PM

GBP/USD - Slides To New 2022 Low, March 2020 Lows In Sharper Focus

By Paul Spirgel  —  Sep 01 - 01:35 PM
  • GBP$ ends NorAm 1.1533 -0.77%; pair up slightly from new 2022 low 1.1499

  • Rising UST yields less austere US inflation expectations vs UK weigh on GBP

  • Sterling grinds to new low en route to 2020 trough nL1N3081IB

  • Traders eye safety of USD ahead of NFP Friday; Rtrs f/c +300k, range 75-450k

  • GBP$ supt 1.1516 lwr 30-d Bolli, 1.1499 Sep 1 low, 1.1445 Mar 23 2020 low

  • Resistance 1.1618 Thursday's high, 1.1662 100-HMA, 1.1731 10-DMA

  • Bears in control, bulls gain momentum abv 1.1888 50% of 1.1499-1.2277

Source:
Refinitiv IFR Research/Market Commentary

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