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Apr 30 - 05:55 PM

GBP/USD - Retests 1.25 As Hawkish Fed Risk Weighs

By Justin Mcqueen  —  Apr 30 - 01:40 PM
  • GBP/USD -0.5%, back below its 200-DMA to test support at 1.25

  • With EUR/GBP trading flat, this would imply a USD led move

  • Hawkish Fed risk clearly a concern with both USD, yields higher

  • Meanwhile, U.S. Q1 ECI data elevates the Fed risk nL1N3H31JG

  • Worth noting that month-end flows were touted to be dollar positive

  • Break of 1.25 opens door to further support at 1.2450-55

  • COMMENT-Sterling upside likely to struggle in lead up to Fed nL1N3H32LI

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Refinitiv IFR Research/Market Commentary


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